Which of the Following Statements Does Not Accurately Describe a Line

Multiple Choice

Which of the following statements does not accurately describe a line of credit?

A) A line of credit is already approved before the money is actually needed.
B) A line of credit is a long-term loan.
C) A line of credit can be obtained at a credit union, trust company, or bank.
D) A line of credit provides an alternative source of funds if an emergency does develop.
E) A line of credit is available immediately when needed.