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Nana Y.
Professional Tutor with 5 years experience in Finance and Accounting
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Personal Finance
TutorMe
Question:

Mention one major difference between overdrafts and personal loans.

Nana Y.
Answer:

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...)

Corporate Finance
TutorMe
Question:

What are the two main sources of finance for corporates?

Nana Y.
Answer:

1. Equity Finance 2. Debt Finance

Accounting
TutorMe
Question:

What are Source Documents?

Nana Y.
Answer:

They are evidential documents used by accountants as a basis for making entries in their books of accounts

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