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The TERMS OF CREDIT for a loan include all of the following EXCEPT:
AThe borrower's family size and number of children
BThe interest rate at which money is lent
CCollateral or security demanded by the lender
DMode and time period of repayment of the loan
Answer & Solution
Correct answer: A. The borrower's family size and number of children
Terms of credit include interest rate, collateral, documentation, mode of repayment, and time period. The borrower's family size is not part of formal credit terms.
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