Credit Instruments and Documentation Quiz

They are not necessary for a credit transaction

They can be either written or oral (correct)

They are always in oral form

They are always in written form

It reduces the interest rate charged

It makes the transaction more flexible

It increases the rights of the debtor

It allows for easier settlement of disputes (correct)

After the credit of the borrower is accepted (correct)

Before the credit of the borrower is accepted

It is not related to the credit of the borrower

At the same time as the credit of the borrower is accepted

<p>It is a development of modern-day credit usage</p> Signup and view all the answers

<p>It provides clear terms and details of the transaction</p> Signup and view all the answers