Which of the following is recommended if you loan money to a friend or relative?
A) Do it in a business-like fashion.
B) Charge interest if the loan is not to be quickly repaid.
C) Be sure both parties understand it is a loan,not a gift.
D) Lend only money you can afford to give away.
E) All of the above

Question

Quizplus · Accepted Answer

All of the above options are recommended when loaning money to a friend or relative. It is important to approach the situation in a business-like manner, clearly communicate that it is a loan and not a gift, charge interest if necessary, and only lend money that you can afford to lose in case repayment is not possible. By following all of these guidelines, it can help prevent potential misunderstandings and strain on the relationship.

Which of the Following Is Recommended If You Loan Money