Q11. The bank retained the paper of the new car as collateral .Which of the
following statements about the collateral is correct -
Question carries 1 mark
(a) It is a kind of security that bank keep as guarantee.
(b) It is kind of a barter system.
(c) It is a medium of exchange.
(d) It is a kind of agreement between the lender and the borrower.
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Answer:
C.
Explanation:
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