Multiple Choice
C.W.Beauregard is an Atlantic salmon farmer.He produces and sells salmon to satisfy the growing demand for fish.He has arranged a business loan with terms that guarantee that he can borrow up to $12,000 whenever he needs it within the next year.He must pay interest only on the unpaid loan balance.Beauregard has arranged which type of credit?
A) a credit-line loan
B) a line of credit
C) a single-payment note
D) a collateralized loan
Correct Answer:
Verified
Correct Answer:
Verified
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