Which of the following is an arrangement by which a bank agrees to lend a specified amount of money to an organization upon request?

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A line of credit is an arrangement between a financial institution and a customer that establishes a maximum loan balance that the lender permits the borrower to access or maintain. The borrower can access funds from the line of credit at any time, as long as they do not exceed the maximum amount (or credit limit) set in the agreement and meet any other requirements such as making timely minimum payments. It's essentially a flexible loan from a bank that can be drawn down at any time up to the limit agreed upon.

Which of the Following Is an Arrangement by Which a Bank