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Describes the line of credit

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Question 1: A line of credit is an agreement between a bank and a firm that will allow a firm to cover cash shortages. Which of the following BEST describes the line of credit?

a. a long-term unsecured loan by the bank to the firm

b. a long-term secured loan by the bank to the firm

c. a short-term unsecured loan by the bank to the firm

d. a short-term secured fixed-rate loan by the bank to the firm

Reference no: EM132498621

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