Sources of Business Finance — OCM STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceOCMSources of Business Finance3 Marks
Question
Write short note on Trade Credit.
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Answer
When business units purchase raw material or other things on credit for some period means purchase is on credit, and for that period working capitals are not required.
Those who allow stock on credit are the creditors of the business. They provide material or service to traders on credit and indirectly satisfy their need of working capital.
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