Which one of the following is the appropriate meaning of collateral?
(A) It is the sum total of money borrowed from banks
(B) The amount borrowed from friends
(C) It is an asset of the borrower used as guarantee to a lender
(D) The amount invested in a business
Advertisement Remove all ads
Solution
(C) It is an asset of the borrower used as a guarantee to a lender
Concept: Role of Money in an Economy
Is there an error in this question or solution?
Advertisement Remove all ads
APPEARS IN
Advertisement Remove all ads
Advertisement Remove all ads
