An Informal Line of Credit and a Revolving Credit Agreement

question 58

True/False

An informal line of credit and a revolving credit agreement are similar except that the line of credit creates a legal obligation for the bank and thus is a more reliable source of funds for the borrower.

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Definitions:

Ostracized

Excluded from a group or society with general consent, often as a form of social punishment.

Shaming

The act of publicly or privately making someone feel ashamed or humiliated, often as a form of punishment or control.

Social Learning Theory

A theory that suggests people learn behaviors, norms, and values through observing and imitating others.

Cultural Values

The fundamental beliefs or philosophies that are important to the people of a specific culture.