Money that will be used for one year or less is called
A) open credit.
B) equity capital.
C) short-term financing.
D) nonsecured financing.
E) long-term financing.

Question

Quizplus · Accepted Answer

Short-term financing is used for money that will be used for one year or less. Open credit refers to a credit account with no set credit limit, equity capital is long-term financing obtained through the sale of equity (ownership) in a company, nonsecured financing refers to financing that is not backed by collateral, and long-term financing is financing used for periods of more than one year.

Money That Will Be Used for One Year or Less