Correct Answer
✅ Option A — Security created is Pledge and bank is required to get stock audit done of cash credit account of ABC Traders.
All Options:
- ASecurity created is Pledge and bank is required to get stock audit done of cash credit account of ABC Traders. ✓
- BSecurity created is Mortgage and bank is required to get stock audit done of cash credit account of ABC Traders.
- CSecurity created is Pledge and bank is not mandatorily required to get stock audit done of cash credit account of ABC Traders.
- DSecurity created is Mortgage and bank is not mandatorily required to get stock audit done of cash credit account of ABC Traders. (2 Marks)
Detailed Solution & Explanation
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