Identify which one of the following statement is not correct? a. The credit limit under the facility of cash credit is sanctioned against the security of materials for sale of a business man by the bank b.
Identify which one of the following statement is not correct? a. The credit limit under the facility of cash credit is sanctioned against the security of materials for sale of a business man by the bank b.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Identify which one of the following statement is not correct?
a.
The credit limit under the facility of cash credit is sanctioned against the security of materials for sale of a business man by the bank
b.
The credit limit under the facility of cash credit is sanctioned against the guarantee provided by the government
c.
The credit limit under the facility of cash credit is sanctioned against the goods in show room of the borrower by the bank
d.
The credit limit under the facility of cash credit is sanctioned against the security of certain tangible assets of the borrower by the bank
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