Debt

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Debt is defined as an amount owed to a person or organization for funds borrowed. Debt can be represented by a loan note, bond, mortgage or other form stating repayment terms and, if applicable, interest requirements. These different forms all imply intent to pay back an amount owed by a specific date, which is set forth in the repayment terms.[1]

See also

References

  1. "What is Debt? definition and meaning". InvestorWords. Retrieved January 24, 2015.