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How does credit became asset and …

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How does credit became asset and debit trap . explain with example

Posted by Surbhi Gupta 1 year, 9 months ago

CBSE > Class 10 > Social Science

2 answers

Md Tayyab Ansari 1 year, 9 months ago

A person 1 take loan for the irrigation of crop. After harvest he get fair amount and make good profit. He paid the loan. This is asset for person 1 A person 2 take loan for the irrigation of crop. After harvest he get unfair and he suffered from loss. He is not able to pay loan. This cause depth trap for person 2.

Sukhleen Kaur Guraya 1 year, 9 months ago

In the shoemaker's case credit plays a vital and positive role whereas in farmer's case credit pushes the borrower into a situation from which recovery is very painful.

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