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Yogita Ingle 4 years ago
- Accounting Period Concept: Accounting period is the timeframe at the end of which, the financial statements of a business are prepared, to evaluate its profits and losses, and to learn the status of its assets and liabilities. This is required for the smooth availability of data to the users of the accounting information in a convenient manner.
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Yogita Ingle 4 years ago
It a mathod of advancing loan by a commercial bank underwhich short term secured cash loan is provided by the bank to the borrower and the borrower can withdraw the amount in a single instalment or in a number of instalment according to his requirements.
Meghna Thapar 4 years ago
Credit is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately, but promises either to repay or return those resources at a later date. Bank credit is the total amount of funds a person or business can borrow from a financial institution. Credit approval is determined by a borrower's credit rating, income, collateral, assets, and pre-existing debt.
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Vitthal Anant 3 years, 11 months ago
1Thank You