Multiple Choice
Which of the following statements about loan terminology is correct?
A) Loan covenants are the collateral provided by a borrower to a lender as security on a loan.
B) A secured loan means that the borrower has a pre-approved line of credit backing the debt.
C) Lenders can revise loan terms if a borrower violates a loan covenant.
D) All companies are able to establish lines of credit which will allow them to borrow money as needed,up to a prearranged limit.
Correct Answer:
Verified
Correct Answer:
Verified
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