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Q:

Debts owed by a business are referred to as

A) Liabilities B) Credits
C) Account receivables D) Owner's Equity
 
Answer & Explanation Answer: A) Liabilities

Explanation:

Debts owed by a business are referred to as Liabilities. Liabilities include all loans, outstanding expenses, mortgages, creditors, etc...

 

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Filed Under: Business Awareness
Exam Prep: Bank Exams , CAT

Q:

Who is responsible to pay back all debts?

A) government B) spouse
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) government

Explanation:
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Filed Under: Bank Interview
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

Q:

When a debtor owes several debts to a banker and makes a payment, the right of appropriation lies with

A) The Court B) The Banker
C) The Debtor D) All the above
 
Answer & Explanation Answer: C) The Debtor

Explanation:
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Filed Under: Bank Interview
Exam Prep: Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

Q:

It is necessary to adopt suitable measures to prevent repetition of bad debts by learning from the past experiences of mounting non-performing assets of banks.

 

Courses of Action:

I. Before granting loan to customers their eligibility for loan should be evaluated strictly.

II.To ensure the payment of instalments of loan, the work, for which loan was granted, should be supervised minutely on regular basis.

A) Only I follows B) Only II follows
C) Neither I nor II follows D) Both I and II follow
 
Answer & Explanation Answer: D) Both I and II follow

Explanation:

To ensure that debts taken are repaid promptly, the customer's requirements and future prospects ought to be studied and their work constantly checked. Thus, both the courses follow.

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Filed Under: Statement and Courses of Action