A Revolving Credit Agreement Is a Formal Line of Credit

question 56

True/False

A revolving credit agreement is a formal line of credit usually used by large firms. The firm will pay a fee on the unused balance of the committed funds to compensate the bank for the commitment to extend those funds.

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Definitions:

Main Strength

The primary or most significant strength or advantage of an individual, organization, or object.

Think Different

A slogan used to inspire innovation and original thinking, often associated with Apple Inc.

Unique

Being unique implies having a distinct and unmatched characteristic, quality, or identity that sets an entity or concept apart from others.