Which of the Following Statements Regarding Loan Terminology Is True

question 1

Multiple Choice

Which of the following statements regarding loan terminology is true?

• A)Loan covenants are the collateral provided by a borrower to a lender as security on a loan.
• B)A secured loan means that the borrower has a pre-approved line of credit backing the debt.
• C)Lenders can revise loan terms if a borrower violates a loan covenant.
• D)All companies are able to establish lines of credit which will allow them to borrow money as needed,up to a prearranged limit.

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Definitions:

Homo Habilis

an early human species known for tool use, existing approximately 2.1 to 1.5 million years ago in Africa.

Hominids

A family of primates that includes humans and their extinct ancestors, characterized by bipedalism, large brain size, and complex behaviors.

Skeletal Differences

Variations in the structure or composition of the skeletal system among different organisms or individuals, often used in the study of evolutionary biology and anthropology.

Hominoids

A group that includes all modern and extinct Great Apes and humans, characterized by larger brains, no tail, and an upright posture.