New Click here to Enroll in NaBFID Analyst Intro Class on May 6

    Question

    Which of the following is true about Cash Credit (Bank

    Loan)? I. Cash credit is an arrangement whereby the bank allows the borrower to draw amount up to a specified limit. II. Interest is charged on the amount actually withdrawn.
    A Only I is true. Correct Answer Incorrect Answer
    B Only II is true Correct Answer Incorrect Answer
    C both I & II are true Correct Answer Incorrect Answer
    D None is true Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The correct answer is C

    Practice Next