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WAEC Marketing 2015 Question 35

Question 35

Marketing Finance

A bank loan obtained by Chief Ibrahim to start a business is an example of

  1. A.internal source of fund.
  2. B.personal source of fund.
  3. C.family source of fund.
  4. D.external source of fund.
Show the answer and explanation

Answer: D (external source of fund.)

Explanation

Money borrowed from a bank is an external source of funds, unlike personal savings.