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Resource Mobilization — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipResource Mobilization3 Marks
Question
What is meant by long term capital? Why is it needed?
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Answer

The amount of capital which is invested in the enterprise for a period more than five years but less than 25 years is a long term capital.
It is needed for the following:
  1. For acquiring fixed assets like building, machines, etc.
  2. For development of enterprise.
  3. For research related with product.

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