5. TRUE OR FALSE. a. General Electric Co. has many long cycle businesses. Production of a product could extend beyond one year. Current liabilities could arise that are longer than one year b. A committed line of credit is a formal agreement between a bank and a borrower, requiring the borrower to pay a fee to the bank to keep a line of credit available to the company C. When accounts receivables serve as collateral, the arrangement is referred to as pledging. When accounts receivables are sold outright to a finance company, the arrangement is called factoring d. Commercial paper refers to unsecured notes sold in minimum denominations of $ 25,000 with maturities ranging from 1 to 270 days e. A liability is accrued if it is both probable that the confirming event will occur, and the amount can be reasonably estimated