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Question
Explain the following term/concept.
Deposit
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Solution
Deposit is a short term source of finance for the company and it is used to meet the short term working capital requirements of the company. The company cannot accept deposits for a period of less than 6 months or more than 36 months. The company is liable to pay regular interest on the deposits at a fixed rate along with the principal amount on maturity.
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RELATED QUESTIONS
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Deposit is a long term source of capital.
Arrange in proper order
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- Deposit Receipt
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