A. Balancing
B. Set off
C. Reconciliation
D. Canceling
Correct Answer: Option B
B. Set off
Explanation
A set-off clause is a legal clause that gives a lender the authority to seize a debtor’s deposits when they default on a loan. A set-off clause can also refer to a settlement of mutual debt between a creditor and a debtor through offsetting transaction claims.
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