Elemental Flags has a three-year loan agreement with its bank. It can borrow anything up to $300,000 and is charged interest on any unpaid balance. Thisbest describes a
A) line of credit.
B) promissory note.
C) commercial credit.
D) revolving credit agreement.
E) transaction loan.

Question

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The Answer of Elemental Flags has a three-year loan agreement with its bank. It can borrow anything up to $300,000 and is charged interest on any unpaid balance. Thisbest describes a
A) line of credit.
B) promissory note.
C) commercial credit.
D) revolving credit agreement.
E) transaction loan.

Elemental Flags Has a Three-Year Loan Agreement with Its Bank