Which of the following statements is false?
A) Bank loans are typically initiated with a promissory note, which is a written statement that indicates the amount of the loan, the date payment is due, and the interest rate.
B) The most straightforward type of bank loan is a single, end-of-period-payment loan.
C) With a fixed interest rate, the specific rate that the bank will charge is stipulated at the time the loan is made.
D) One of the primary sources of short-term financing, especially for small businesses, is the investment bank.
Correct Answer:
Verified
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