Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business
New Topic  
Tesy Tesy
wrote...
Go to Answer
Posts: 568
Rep: 0 0
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:
Read 90 times
1 Reply
Replies
Answer verified by a subject expert
ByprivateByprivate
wrote...
#1
Top Poster
Posts: 733
Rep: 37 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Tesy Author
wrote...

6 years ago
Helped a lot
julymontalvo
wrote...

Yesterday
You make an excellent tutor!
courtneyrmcd
wrote...

2 hours ago
Thanks
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1234 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 205
  
 6680
  
 348
Your Opinion
Who's your favorite biologist?
Votes: 586
Previous poll results: Does a gender wage gap exist in America?