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      Question

      Under 'Assignment', which of the following is usually

      transferred to the bank? 
      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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