A _________ is a type of loan made to a business by a commercial bank. This type of loan is made when the borrower needs additional funds for a short period but does not believe the need will continue or reoccur on a seasonal basis.
A. revolving credit agreement
B. line of credit
C. short-term self-liquidating loan
D. single payment note
Answer:D
A _________ is a type of loan made to a business by a commercial bank. This type of loan is made when the borrower needs additional funds for a short period but does not believe the need will continue or reoccur on a seasonal basis.
A. revolving credit agreement B. line of credit C. short-term self-liquidating loan D. single payment note