Jake Is the Only One of the Employees Who ____

question 45

Multiple Choice

Jake is the only one of the employees who ____ authorized to make expenditures from that account.

• A)were
• B)are
• C)is

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Definitions:

Revolving Line of Credit

A flexible loan arrangement which allows a borrower to use, repay, and re-borrow funds up to a certain credit limit.

Negotiability

The feature of a financial instrument that allows it to be transferred or assigned freely from one party to another.

Default

Failure to fulfill a legal obligation, especially failing to make a required payment on a loan or financial agreement.

Time Instrument

A financial document or negotiable instrument that promises payment of a certain sum of money at a future date, as opposed to on demand.