Question

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Answer 1

Answer:

1. Major portion of the deposits is used by banks for

a. extending loans

b. paying interest on loan

c. Setting up new branches

d. paying taxes

2. Modern forms of money include:

a. paper notes

b. silver coins

c. copper coins

d. gold coins

3. Repayment of the loan is dependent on the

a Chances of winning a gamble

b. Chances of winning a lottery

c. Chances of winning a bet

d. Income

4. What is the positive impact of credit?

a. Increase in tax collection of government

b. Continuation of business

c. People fall in debt trap

d. Increase in profit of lenders

5. What is collateral?

a. Assets owned by the government

b. An asset owned by the borrower

c. Loan given by the bank

d. Asset owned by the lender