Energy-Wise Builders, Inc

question 179

Multiple Choice

Energy-wise Builders, Inc., a leader in residential housing, recently negotiated a financing arrangement with First Pennsylvania Bank. The short-term funding agreement guarantees a specified amount of funds would be made available upon Energy-wise's request. This arrangement represents a:

• A) line of credit.
• B) pledging agreement.
• C) revolving credit agreement.
• D) contingency reserve.

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Definitions:

Bakery

A bakery is a business establishment that produces and sells flour-based food baked in an oven such as bread, cookies, cakes, pastries, and pies.

Exchange

An exchange is a marketplace where securities, commodities, derivatives, and other financial instruments are traded.

Paying Cashier

A cashier responsible for handling cash transactions and payments within a retail or other business environment.