Question

12. Give the name of the facilities generally given by the banks to the firms for meeting their short-term requirements of funds in excess amount in their account (a) Credit (b) Bank Overdraft (c) Loan (d) None of these​

Answer 1

Answer:

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Answer 2

(c) Loan is generally given by the banks to the firms for meeting their short-term requirements of funds in excess amount in their account

Explanation:

• A Credit allows a small short-term loan to be quickly made to a customer. The total charges do not exceed the maximum credit line of the credit card.

• Bank overdraft is the amount overdrawn is within the authorized overdraft limit, then interest is normally charged at the agreed rate.

• The loan is known as something referred to as cash advances. It gives funds in excess amount in their account.

• Hence loan is the short-term requirements of funds in excess amount in their account.