Renita Works as a Freelancer

question 1

Multiple Choice

Renita works as a freelancer. She wants to start her own business, but she does not have the required funding. To meet the working capital for her business, she takes a short-term loan from a bank. The bank agrees to provide her funding up to $50,000, as and when she needs it. However, she can repay the amount immediately or over a pre-specified period of time. Which of the following short-term financing sources does Renita utilize to fund her business in the given scenario?

• A) Line of credit
• B) Trade credit
• C) Commercial paper
• D) Factoring

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Definitions:

Temperature Switch

A switch that operates based on the temperature, either turning on or off when a specific temperature threshold is reached.

Manual Automatic

A system or process that can be operated either manually by a human operator or automatically by a machine or software without human intervention.

Latch Instruction

The Latch Instruction in programmable logic controllers (PLCs) is used to maintain the output state until a specific reset condition is met.

Timer Instruction

An instruction in programming that initiates a timer, controlling how long a certain operation or event should last before proceeding.