cash credit
This query is : Resolved
24 May 2010
can anyone say me what is cash credit in simple words?
24 May 2010
Cash credit means the excess amount which is borrowed by the borrower over and above the amount deposited with the bank. This type credit provided by the bank on the basis worthiness of the customer.
25 May 2010
Cash credit limit is excess limit of fund against your bank balance which you can use against hythophcation of your stock and book debts .
25 May 2010
It is an overdraft account secured by assets, mostly current assets. It is to be classified as secured loans, in accounting.
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26 May 2010
Thanks
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