Credit

Credit may refer to:

See also

Debits and credits

In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in account ledgers to record changes in value resulting from business transactions. Generally speaking, the source account for the transaction is credited (that is, an entry is made on the right side of the account's ledger) and the destination account is debited (that is, an entry is made on the left side). Total debits must equal total credits for each transaction; individual transactions may require multiple debit and credit entries to record.

The difference between the total debits and total credits in a single account is the account's balance. If debits exceed credits, the account has a debit balance; if credits exceed debits, the account has a credit balance. For the company as a whole, the totals of debit balances and credit balances must be equal as shown in the trial balance report, otherwise an error has occurred.

Accountants use the trial balance to prepare financial statements (such as the balance sheet and income statement) which communicate information about the company's financial activities in a generally accepted standard format.

Credit (finance)

Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.

Credit does not necessarily require money. The credit concept can be applied in barter economies as well, based on the direct exchange of goods and services. However, in modern societies, credit is usually denominated by a unit of account. Unlike money, credit itself cannot act as a unit of account.

Movements of financial capital are normally dependent on either credit or equity transfers. Credit is in turn dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds. Credit is also traded in financial markets. The purest form is the credit default swap market, which is essentially a traded market in credit insurance. A credit default swap represents the price at which two parties exchange this risk – the protection seller takes the risk of default of the credit in return for a payment, commonly denoted in basis points (one basis point is 1/100 of a percent) of the notional amount to be referenced, while the protection buyer pays this premium and in the case of default of the underlying (a loan, bond or other receivable), delivers this receivable to the protection seller and receives from the seller the par amount (that is, is made whole).

Ship

A ship is a large buoyant watercraft. Ships are generally distinguished from boats based on size, shape and cargo or passenger capacity. Ships are used on lakes, seas,rivers,and oceans for a variety of activities, such as the transport of people or goods, fishing, entertainment, public safety, and warfare. Historically, a "ship" was a sailing vessel with at least three square-rigged masts and a full bowsprit.

In armed conflict and in daily life, ships have become an integral part of modern commercial and military systems. Fishing boats are used by millions of fishermen throughout the world. Military forces operate vessels for naval warfare and to transport and support forces ashore. Commercial vessels, nearly 35,000 in number, carried 7.4 billion tons of cargo in 2007. As of 2011, there are about 104,304 ships with IMO numbers in the world.

Ships were always a key in history's great explorations and scientific and technological development. Navigators such as Zheng He spread such inventions as the compass and gunpowder. Ships have been used for such purposes as colonization and the slave trade, and have served scientific, cultural, and humanitarian needs. After the 16th century, new crops that had come from and to the Americas via the European seafarers significantly contributed to the world population growth.Ship transport has shaped the world's economy into today's energy-intensive pattern.

Ship (disambiguation)

A ship is a large vessel that floats on water, specifically the ocean and the sea.

Ship or ships may also refer to:

Acronyms:

In the arts:

Ship (comics)

The fictional A.I. entity originally known as Ship has appeared in several incarnations in the Marvel Universe. At times controlled by both the X-Men and their enemies, the sentient A.I. has at times been installed in the core of a Celestial starship, two space stations, and a techno-organic being. It is not related to Star-Lord's "Ship".

Fictional character biography

Ancient history

Ship's A.I. was created untold millennia ago by the Celestials as the operating system for a data collection device. The Celestials had genetically manipulated humanity, and they left the Ship in the area that would come to be known as Mongolia to monitor humanity's progress.

Circa 1100 A.D., a Mongolian immortal known as Garbha-Hsien (later known as Saul), discovered the Ship and lived next to it while he researched its mysteries. Saul never attempted to enter the Ship.

In time, the Egyptian immortal En Sabah Nur learned of Saul and sought him out as another immortal. In a confrontation, En Sabah Nur slew all of Saul's guards. Saul then sought to humble his fellow "forever-walker" by revealing the secret titanic vessel. Having had previous experience with futuristic technology due to his encounters with Rama-Tut, Nur attacked Saul and left the other immortal for dead and entered the Ship. He emerged later as a vastly changed being who now called himself Apocalypse.