alleryAn asset a borrower pledges as a guarantee to a lender is:
ACorrelation
BConsignment
CCollateral
DCollection
Answer & Solution
Correct answer: C. Collateral
1. Land, buildings and livestock are examples.
2. It is held until the loan is repaid.
3. It is collateral.
_Source: syllabus Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
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