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Loans & Lending Practices MCQs

What is the definition of a loan?

A type of debt, the redistribution of assets between a borrower and a lender with a promise to repay

Something similar to an asset

Always a short term obligation to repay someone

The same as a draft or check

Answer

Correct Answer: A type of debt, the redistribution of assets between a borrower and a lender with a promise to repay

Explanation:

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More Loans & Lending Practices MCQ Questions

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