Which One of the Following Statements Is NOT True

question 27

Multiple Choice

Which one of the following statements is NOT true?

• A) Accounts payable (trade credit), bank loans, and commercial paper are common sources of short-term financing.
• B) An informal line of credit is a verbal agreement between the company and the bank, allowing the company to borrow up to an agreed-upon upper limit.
• C) An informal line of credit is also known as "revolving credit."
• D) A formal line of credit is also known as "revolving credit."

---

Definitions:

Job Descriptions

Formal documents that outline the duties, responsibilities, required qualifications, and reporting relationships of a specific job.

Specialized Jobs

Positions that focus on a narrow set of tasks, requiring specific skills and expertise, contributing to an organization's efficiency and effectiveness.

Training Costs

The expenses associated with improving employee skills and competencies through educational programs and activities.

Work Efficiency

The effectiveness with which tasks and activities are completed, often assessed in terms of speed, quality, and resource use.