Economics · Money and Credit
When a cooperative society secures a large loan from a bank using its members' collective savings, what serves as collateral in this case?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Land assets of the individual members
- 2Guarantee issued by the government
- 3Deposits of the members of the cooperative✓
- 4Building of the cooperative
Correct answer
Deposits of the members of the cooperative
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