Question

Businessman prefer.....

a) Loan b) Overdraft c) cash credit d) Account​

Answer 1

Answer:

loan

Explanation:

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Answer 2

Businessmen prefer loans as a type of credit for their businesses.

• They prefer long term loans some Financial Institutions to use in their businesses as capital.

• A long term loan will give a businessman enough time to raise funds before having to pay off the loan together with its interest.

• Overdraft and cash credit are also so good types of credit but are not as widely used due to the high rate of interest and a shorter period for paying it back.