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    Question

    Under 'Assignment', which of the following is usually

    transferred to the bank?┬а
    A Physical machinery Correct Answer Incorrect Answer
    B Land titles Correct Answer Incorrect Answer
    C Rights to receive future payments (e.g., Life Insurance Policy) Correct Answer Incorrect Answer
    D Warehouse receipts Correct Answer Incorrect Answer
    E Stock in trade Correct Answer Incorrect Answer

    Solution

    Assignment is the transfer of a right, property, or debt. Common examples in banking are the assignment of LIC policies or book debts.

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