Companies have a choice or using a committed line of credit where the contract obligates...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Companies have a choice or using a committed line of credit where the contract obligates a bank to loan funds under certain conditions or to accept an committed promise from the bank where the bank can reconsider the obligation before loaning funds. When is it smart to secure the written commitment and when is an unsecured promise good enough?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
