A revolving credit bill facility is:
A) similar to a fully drawn facility in that the company is permitted to draw on the facility as the funds are required,provided that it does not borrow more than the agreed total amount.
B) different from a bank overdraft in that the company is permitted to draw on the facility as the funds are required,provided that it does not borrow more than the agreed total amount.
C) different from a bank overdraft in that there is an agreed total amount up to which the company can borrow.
D) none of the given options.
Correct Answer:
Verified
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