What Is Debt? Definition And Usage Of This Term
WHAT IS DEBT – In this topic, we will first know the definition of this term and how is this term used in sentences.
Definition
The Oxford Dictionary defines the term as the following:
- something, typically money, that is owed or due
- the state of owing money
- a feeling of gratitude for a service or favor
On the other hand, the Merriam-Webster Dictionary defines this term as the following:
- something owed
- a state of being under obligation to pay or repay someone or something in return for something received : a state of owing
- the common-law action for the recovery of money held to be due
Synonyms
Here are some of the following synonyms of this term:
- bill
- account
- tally
- financial obligation
- outstanding payment
- amount due
- money owing
- in arrears
- behind with payments
- late with payments
- overdue with payments
- overdrawn
- insolvent
Etymology
It came from the Middle English term dette, which is from the Latin term debitum or ‘something owed‘, which is from debere or ‘owe‘
Examples
Here are some examples of the usage this term:
- The following table shows the increase of the funded debt since 1814.
- They were making money on it, but there was so much debt to begin with.
- It can overspend and rack up public debt and destroy the currency.
- He received ten thousand rubles a year, but now resolved to take only two thousand and leave the rest to repay the debt to his parents
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