Which of the following observations is true of a spot loan?
A) It involves a maximum size and a maximum period of time over which the borrower can withdraw funds.
B) It involves immediate withdrawal of the entire loan amount by the borrower.
C) It is an unsecured short-term debt instrument issued by corporations.
D) It is a nonbank loan substitute.
E) It is a line of credit.
Correct Answer:
Verified
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