Multiple Choice
General Rent-All's officers arrange a $50,000 loan.The company is required to maintain a minimum account balance of 10% of the outstanding loan in their chequing account.This is referred to as:
A) an instalment loan.
B) a compensating balance.
C) a discounted loan.
D) a balloon payment.
Correct Answer:
Verified
Correct Answer:
Verified
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