Question:
Loans payable in more than 5 years are called _____ term loans.
Loans payable in more than 5 years are called _____ term loans.
Updated On: Dec 16, 2024
- short
- very short
- long
- medium
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The Correct Option is C
Solution and Explanation
Loans with a repayment period of more than five years are categorized as long-term loans. These are typically used for large investments like purchasing property or fund ing major business projects.
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