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Which of the following statements is NOT true? A.) An informal line of credit is a special type of collateralized loan. B.) Accounts payable (trade
Which of the following statements is NOT true?
A.) An informal line of credit is a special type of collateralized loan.
B.) Accounts payable (trade credit), bank loans, and commercial paper are common sources of short-term financing.
C.) A formal line of credit is also known as revolving credit.
D.) An informal line of credit is a verbal agreement between the firm and the bank, allowing the firm to borrow up to an agreed-upon limit.
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