Revolving credit agreements are
A. guaranteed loans that specify the maximum amount that a firm can owe the bank at any point in time.
B. non-guaranteed loans that specify the maximum amount that a firm can owe the bank at any one time.
C. credit arrangements made in cooperation with suppliers that allows the firms to roll over accounts payable each month.
D. None of the above
Answer:A
Revolving credit agreements are
A. guaranteed loans that specify the maximum amount that a firm can owe the bank at any point in time. B. non-guaranteed loans that specify the maximum amount that a firm can owe the bank at any one time. C. credit arrangements made in cooperation with suppliers that allows the firms to roll over accounts payable each month. D. None of the above