In General

question 63

Multiple Choice

In general,

• A)a revolving credit agreement is more expensive but less risky to the firm than a line of credit.
• B)a revolving credit agreement is more expensive and more risky to the firm than a line of credit.
• C)a revolving credit agreement is less expensive and less risky to the firm than a line of credit.
• D)a revolving credit agreement is less expensive but more risky to the firm than a line of credit.
• E)none of the above

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Definitions:

Certified Public Accountant

A professional designation given to qualified accountants who have passed a state licensing examination and met additional education and experience requirements.

Incorporate

To form into a legal corporation, which involves registering with the state and creates an entity that is legally separate from its owners.

Incorporation Statutes

Laws that govern the formation, operation, and dissolution of corporations.

Special Privileges

Rights or advantages granted to specific individuals or groups, often at the expense or exclusion of others, typically in legal, political, or social contexts.