Discussion
What is the full form of "CC"?
Answer: D
Correct answer: Cash Credit
Cash credit is a working capital facility under which a borrower may draw up to a sanctioned limit against the security of stock and receivables, interest being charged only on the amount actually outstanding.
It is the standard arrangement for financing a trading or manufacturing cycle, since the balance rises as inventory is built and falls as it is sold. The account is running rather than fixed, which distinguishes it from a term loan; and the limit is usually reviewed annually against a drawing power computed from the stock statement.
No comment is present. Be the first to comment.
Loading…
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development