CBSE Class 10 Answered
A)What are the terms of credit?
B) What is a cheque.(expert answer)
Asked by madhavilathatirumala10 | 13 Jan, 2020, 07:39: PM
Expert Answer
a) Terms of credit is an agreement that is made between the lender and the borrower with regard to the credit/loan. The interest payment to be made, the doccuments required and the mode of repayment comprise of the terms of credit.
b) A cheque is a doccument which contains a written order or instructs the bank to pay a certain amount of money from the persons bank account to the person whose name is mentioned on the cheque.
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