Register
A financial institution and a business establish an arrangement that defines a maximum loan balance the institution allows the business to maintain. What banking service is this an example of? a. Line
144,739 views
41 votes
41 votes
A financial institution and a business establish an arrangement that defines a maximum loan balance the institution allows the business to maintain. What banking service is this an example of?

a. Line of credit
b. Certificate of deposit
c. Letter of credit
d. Revolving credit

User Kaylah
by
2.9k points

1 Answer

10 votes
10 votes
The answer is A. Line of credit
User Alireza Naghizadeh
by
2.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

Other Questions

If the rate of inflation in Japan dramatically increases while the rate of inflation in the United States remains constant, then a. the demand curve for dollars shifts to the left. b. the demand curve
The market value of the equity of Hudgins, Inc., is $582,000. The balance sheet shows $21,000 in cash and $192,000 in debt, while the income statement has EBIT of $93,000 and a total of $137,000 in depreciation
Kylie is risk averse and has $1,000 with which to make a financial investment. She has three options. Option A is a risk-free government bond that pays 5 percent interest each year for two years. Option
In January of the current year, Dora made a gift of stock to her granddaughter. At the time of the gift, the stock was worth $15,000. Several months later in the same year after the gift, a $500 dividend
Jillian Diaz receives a regular salary of $1,500 a month and is entitled to overtime pay at the rate of one and one-half times the regular hourly rate for any time worked in excess of 40 hours per week.
Link Copied!