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What is the proper use of the words lend and borrow?

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تم إضافة السؤال من قبل Rehan Qureshi , Financial Consultant , Self Employeed
تاريخ النشر: 2013/12/26
Rehan Qureshi
من قبل Rehan Qureshi , Financial Consultant , Self Employeed

If a company is granted a loan from its bank, the company is borrowing money from its bank, and the bank is lending money to one of its customers. In other words, the bank is the lender and the loan customer is the borrower.To use your friend's car, you might ask "May I borrow you car? or "Will you lend me your car?" If your friend agrees, you are borrowing your friend's car and your friend is lending his or her car.

Mohammed Salim Allana
من قبل Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

Instead of using the term Lend and Borrow....use "Due to" and "Due from" in the balance sheet

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