"Whether credit will be useful or not, depends upon the situation. Give two different examples in support of this statement.
Answers
Answer:
(i) A manufacturer taking credit for supplying goods in the festival season usually has low risk, as the products are most likely to be sold completely. (ii) A small farmer taking credit for crops has larger risks in case of crop failure. His only support in case of loss is the land, which he has to sell.
Explanation:
Answer:
The credit would be useful or not depends on the situation
the reasons below justify this statement:
1. A manufacturer taking credit for supplying goods in the festival season usually has low risk, as the products are most likely to be sold completely.
2. A small farmer taking credit for crops has larger risks in case of crop failure. His only support in case of loss is the land, which he has to sell to repay the credit.
Thus, it can be concluded that usefulness of credit depends on the situation.
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