Mention one major difference between overdrafts and personal loans.
Overdrafts are agreements to withdraw from the balance standing in one's bank account and which is repayable on demand. Personal Loans are agreed on loans between an individual and a bank, subject to agreed repayment terms. (Agreed Principal, Interest rate, Tenor etc...)
What are the two main sources of finance for corporates?
1. Equity Finance 2. Debt Finance
What are Source Documents?
They are evidential documents used by accountants as a basis for making entries in their books of accounts