Which of the following statements is/are correct?

Select one:

a.

Line of credit is an agreement under which a firm is authorized to borrow up to a specified amount.

b.

Noncommitted line of credit allows firms to borrow up to a previously specified limit without going through the normal paperwork.

c.

Compensating balance requires some of the firms money to be kept by the bank in low interest or non-interest-bearing accounts.

d.

All of the above are correct

e.

None of the above are correct