Managers Often Use Short-Term Loans or Prearranged Lines of Credit

question 59

True/False

Managers often use short-term loans or prearranged lines of credit to balance the cash budget.

---

Definitions:

Integrated Contract

A contract in which multiple documents or agreements are combined and considered to be parts of a single binding agreement.

Statute of Frauds

A legal concept that requires certain types of contracts to be in writing and signed by the parties to be enforceable.

Memorandum

A written record or communication used in office or administrative support systems.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the party to be charged, to be enforceable.