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Chapter 12: Short-term and Medium-term...
Learning objectives
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This chapter of the book is largely descriptive and so it would be an achievement merely to understand the nature of each form of finance. However we will go further, and explore the appropriate use of these sources in varying circumstances. Specifically, after working through the chapter you should be able to:
- describe, compare and contrast the bank overdraft and the bank term loan;
- show awareness of the central importance of trade credit and good debtor management and be able to analyse the early settlement discount offer;
- explain the different services offered by a factoring firm;
- consider the relative merits of hire purchase and leasing.
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