1.3.1 A form of security required by the bank before granting a loan is called collateral.
1.3.2 A financial statement that summarises the assets and liabilities of the business is called a balance sheet.
1.3.3 A document that provides an estimate of expected income and expenditure for a given period is an income statement.
1.3.4 The combination of product, pricing, placement, and promotion is called the marketing mix.
1.3.5 The sequence of steps involved in transferring products from the farm to the consumer Direct marketing.
An asset that a lender accepts as collateral for a loan is referred to as collateral. Depending on the loan's purpose, collateral may be in the form of real estate or other forms of assets. For the lender, the collateral serves as a type of insurance.
The act of presenting an offer directly to a target client and providing them with a way to respond immediately is known as direct marketing. It is sometimes referred to as direct response marketing among practitioners. Advertising, in contrast, is a form of mass messaging.
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