Home » MCQs » Commerce MCQs » Rural Credit MCQs

What is Simple Credit?

4. What is Simple Credit?

1. Type of lending program or line of credit that is aimed at impacting a rural population in some manner
2. A source of short-term finance for businesses and companies
3. Extension of very small loans to impoverished borrowers who typically lack collateral
4. The credit checks for which the system compares the credit limit of the customer with the net document values

Answer: D) The credit checks for which the system compares the credit limit of the customer with the net document values

Explanation:

This term has numerous implications in the monetary world, yet acknowledge is by and large characterized as an agreement understanding in which a borrower gets an amount of cash or something of significant worth and reimburses the moneylender sometime in the future, for the most part with revenue. Credit likewise may allude to the reliability or record as a consumer of an individual or a company.1 To a bookkeeper, it frequently alludes to an accounting passage that either diminishes resources or expands liabilities and value on an organization's asset report.