Mort Approached the Chief Lending Officer at First Virginia Bank

question 221

Multiple Choice

Mort approached the chief lending officer at First Virginia Bank about obtaining a $75,000 loan. The banker said she would approve the loan provided that the funeral home's building was pledged as collateral. The banker was offering a(n)

• A) trade credit agreement.
• B) institutional loan.
• C) secured loan.
• D) revolving credit agreement.

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Definitions:

Positive Discipline

A disciplinary approach focusing on constructive feedback and encouraging employees to learn from their mistakes without fear of punitive actions.

Management

The process of planning, organizing, leading, and controlling resources within an organization to achieve its goals efficiently and effectively.

Organizational Setting

The physical and social environment in which an organization operates, including its culture, structure, and external environment.