Which one of the following statements regarding lines-of-credit is not true.

Group of answer choices

a. In business, a line-of-credit is a secured loan.

b. Lines-of-credit often require that borrowers bring their loan balance to zero occasionally (clean-up period).

c. A committed line-of-credit requires that the firm pays the bank a fee.

d. A non-committed line-of-credit is informal and typically evaluated year-to-year.