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Q333
A UK local authority, which is governed by The Local Government Act 2003, want to make an investment of surplus funds in a non-approved investment.The level of the proceeds from the investment that have to be set aside as provision for credit liabilities (PCL) is ______%
Answer
The level of the proceeds from the investment that have to be set aside as provision for credit liabilities (PCL) is 75%.Doubt:
I am unable to understand this. Sir, please explain this with the help of a suitable example.
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