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  • Question
  • What is Line of credit?


  • Correct Answer
  • Line of credit is an agreement or arrangement between the bank and a borrower, to provide a certain amount of loans on borrower?s demand The borrower can withdraw the amount at any moment of time and pay the interest only on the amount withdrawn For example, if you have $5000 line of credit, you can withdraw the full amount or any amount less than $5000 (say $2000) and only pay the interest for the amount withdrawn (in this case $2000) 


  • Accounting and Finance problems


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    • 1. What ACH stands for?
    • Discuss
    • 2. What is ?Bill Purchase??
    • Discuss
    • 3. What do you mean by ?cheque endorsing??
    • Discuss
    • 4. What do you mean by ?foreign draft??
    • Discuss
    • 5. What is ?Amortization??
    • Discuss
    • 6. The primary Economic function of the Financial system is to

    • Options
    • A. Providing experts advice to investors and savers
    • B. Match one person's savings with another person's investment
    • C. Keeping interest rates low
    • D. Match one person's consumpion expenditure with another person's capital expenditure
    • Discuss
    • 7. The value of money varies

    • Options
    • A. inversely with the price level
    • B. directly with the price level
    • C. directly with the volume of employment
    • D. directly with the interest rate
    • Discuss
    • 8. Patents, Copyrights and Trademarks are examples of

    • Options
    • A. Short-term investments
    • B. Fixed assets
    • C. Long-term investments
    • D. Intangible assets
    • Discuss
    • 9. Commercial banks are funded through which of the following?

    • Options
    • A. Stock holders
    • B. Government funding
    • C. Services
    • D. Customer deposits
    • Discuss
    • 10. A check returned by the bank marked nsf means

    • Options
    • A. Cheque has been forged
    • B. Cheque can't be cashed being illegal
    • C. There are not sufficient funds in your accoun
    • D. Bank can't verify your identity
    • Discuss


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