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Features of a Term Loan Include

question 19

Multiple Choice

Features of a term loan include
1) restrictive covenants
2) repayment schedules
3) dividend payments​


Definitions:

Collection Float

The time span between when a check is deposited and when the funds are actually available in the account, reflecting processing time.

Checks

Checks are written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a designated party.

Bank

A financial institution licensed to receive deposits and make loans.

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