Loan covenants may be either positive or negative. Which of the following is a negative...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Loan covenants may be either positive or negative. Which of the following is a negative covenant?
Select one:
a. The borrower's dividends must not exceed 50 per cent of the profit.
b. The borrower must maintain working capital of at least $1 million at all times.
c. The borrower must provide quarterly cash flow statements.
d. The borrower must provide audited accounts within 75 days of the end of each financial year.
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: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.