A Revolving Line of Credit Would Be Considered

question 63

Multiple Choice

A revolving line of credit would be considered:

• A) an agreement to borrow up to a specific total amount on demand from a bank.
• B) a one-time short-term, unsecured, amortized loan.
• C) a secured loan to be amortized over three to five years.
• D)a long-term, permanent source of funding.

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Definitions:

Accommodation

The cognitive process of revising existing cognitive schemas, perceptions, and understanding so that new information can be incorporated.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or touched, a concept important in cognitive development.

Conservation

In cognitive psychology, the understanding that an object's or substance's quantity remains the same even when its appearance changes, a concept developed by Jean Piaget.

Formal Operational Thought

A stage in Piaget's theory of cognitive development, where individuals develop the ability to think abstractly, systematically, and logically.