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Tesy Tesy
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6 years ago
What is the difference between a line of credit and a revolving credit agreement?
A) A line of credit is only obtainable from a credit union, while a revolving credit agreement is only obtainable from a bank.
B) There is no guarantee that the money will be available when it is requested in a line of credit, but there is an agreement that it will be available when requested in a revolving credit agreement.
C) A line of credit is normally used by charitable and public-sector organizations, while a revolving credit agreement is usually used by private-sector business firms.
D) More money can be borrowed with a line of credit than with a revolving credit agreement.
E) All of these are correct.
Textbook 
Business Essentials, Canadian Edition

Business Essentials, Canadian Edition


Edition: 8th
Authors:
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ByprivateByprivate
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6 years ago
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6 years ago
this is exactly what I needed
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You make an excellent tutor!
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Just got PERFECT on my quiz
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