Final answer:
General store accounts were true forms of credit in history.
Step-by-step explanation:
True. General store accounts were indeed one of the earliest forms of credit.
Before the establishment of formal banking systems, general stores often extended credit to customers who could pay their bills at a later date. This allowed people to obtain goods and services even if they didn't have immediate access to cash.
For example, in Colonial America, general stores would keep a ledger for each customer, recording their purchases and the amount owed. The customers would settle the debt periodically, typically at the end of the planting or harvesting season in agricultural communities.
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