Fixed Assets Question:
Explain what is meaning of Secured & Unsecured loan?
Answer:
Secured loans are those which are borrowed from banks and other financial services, which are genrally huge amounts.
Unsecured loans are small amounts borrowed from unorganised instituion. Exapmle: Moneyborrowed from any person or a relative, where you can get the money without any security.
Unsecured loans are small amounts borrowed from unorganised instituion. Exapmle: Moneyborrowed from any person or a relative, where you can get the money without any security.