Funds that a manager can access at any time up to an amount agreed upon between the bank and the company are called a line of ________.
A) debit
B) credit
C) asset
D) liability
E) obligation

Question

Quizplus · Accepted Answer

A line of credit allows a company to borrow money from a bank up to a certain limit whenever needed. This is considered a form of credit, hence the correct answer is B) credit. Debit, asset, liability and obligation are not accurate choices for describing this type of funding.

Funds That a Manager Can Access at Any Time Up