Question:
Which of the following is not included in terms of credit?
Which of the following is not included in terms of credit?
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Remember that the 'terms of credit' relate to the borrower’s obligations, not the lender’s background.
Updated On: Apr 21, 2025
- Interest rate
- Collateral and documentation
- Mode of repayment
- History of the money lender
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The Correct Option is D
Solution and Explanation
Terms of credit usually include essential components like the interest rate, collateral, documentation, and mode of repayment. The lender’s personal history is not typically considered a formal term of the credit itself, hence option (4) is not included.
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