After Much Searching, Mort Located an Old Banking Friend of His

question 127

Multiple Choice

After much searching, Mort located an old banking friend of his father's. The banker offered Mort up to $25,000 in unsecured funds, which Mort's firm could borrow any time within a year, as long as the bank has the money available. Mort was offered a(n)

• A) revolving credit agreement.
• B) asset guarantee pledge.
• C) pledging agreement.
• D) line of credit.

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Definitions:

African American

A racial or ethnic group in the United States with ancestry from any of the black racial groups of Africa.

Hispanic Populations

Refers to individuals and communities who identify with or are descended from Spanish-speaking cultures, particularly evident in Latin America and Spain.

Caucasian Populations

A term historically used to refer to people from a wide range of ethnic backgrounds, mainly those with European ancestry.

Gender Biases

Preconceived notions and discriminatory attitudes based on an individual's gender that unfairly advantage or disadvantage members of a particular gender.