Banking Awareness - Basics Of Banking & Banking Terminology
Which term is more commonly used for short-term credit facilities in banking books?
Which term is more commonly used for short-term credit facilities in banking books?
medium Q6 of 15
Step-by-Step Solution
Step 1: Identify terminology usage
The question focuses on banking terminology.Step 2: Apply standard usage
Short-term credit is commonly referred to as advances.Final Answer:
Advance → Option BQuick Check:
Working capital facilities fall under advances ✅
Quick Trick: Short-term credit = Advance.
Common Mistakes:
- Using loan for all credit types.
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