After Much Searching, Mort Located an Old Banking Friend of His

question 127

Multiple Choice

After much searching, Mort located an old banking friend of his father's. The banker offered Mort up to $25,000 in unsecured funds, which Mort's firm could borrow any time within a year, as long as the bank has the money available. Mort was offered a(n)

• A) revolving credit agreement.
• B) asset guarantee pledge.
• C) pledging agreement.
• D) line of credit.