Chapter 34 Flashcards
1
Q
Does ownership of business can come from debt
A
No
2
Q
What are 4 C for basic consideration for lending loan by bank
A
- Character
- Capacity
- Capital
- Collateral
3
Q
What is first charge of property
A
First month profit taking by bank where he has invested his money by spending loan is called first charge of property.
4
Q
What is disbursement schedule
A
Schedule of payment of loan by bank to individual
5
Q
What is repayment schedule
A
Schedule of pay back of payment of loan by individual to bank
6
Q
What is LCY
A
Local currency loan. It has low interest rate than foreign currency.
7
Q
What is small business administration loan
A
SBA loan. Its an organization that can gives loan for small businesses and entrepreneurs
8
Q
Entrepreneurship and small business close to each other. True/False
A
True
