A Method of Financing That Allows the Business to Withdraw

question 7

Multiple Choice

A method of financing that allows the business to withdraw and deposit funds on an ongoing basis as long as the total amount withdrawn, at any point in time, does not exceed the approved amount is called:

• A) traditional bank loan.
• B) personal guarantee.
• C) line of credit.
• D) mortgage.

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Definitions:

Strategic Decisions

Higher-level choices made by an organization's management that significantly impact the overall direction and success of the organization.

Conceptual Skills

The ability to understand complex ideas and the relationship between them, which is crucial for high-level problem-solving and strategic planning.

Interpersonal Skills

Abilities that facilitate effective and positive communication and interaction with others, including listening, empathy, and conflict resolution.

Management Levels

Describes the hierarchical layers of management in an organization, typically ranging from upper management to middle management and lower management.