A ________ is credit extended by a bank for a specific purpose, such as for constructing a new store or stocking up on new inventory for the season.
A) revolving credit agreement
B) lay away plan
C) line of credit
D) transaction loan
E) credit card advance

Question

Quizplus · Accepted Answer

A transaction loan is a type of credit extended by a bank for a specific purpose, such as constructing a new store or stocking up on inventory.

A ________ Is Credit Extended by a Bank for a Specific