Asked by Jobin Mathew on Jul 27, 2024
Verified
Lines of credit must be secured by a pledge of inventory,receivables,equipment,or other acceptable assets.
Pledge of Inventory
The use of a company's inventory as collateral to secure a loan or meet other financial obligations.
- Acquire knowledge on the safety protocols, involving collateral and personal guarantees, demanded by creditors.
Verified Answer
BT
briana taylorJul 28, 2024
Final Answer :
False
Explanation :
Lines of credit can be either secured or unsecured, meaning they do not always require a pledge of assets as collateral.
Learning Objectives
- Acquire knowledge on the safety protocols, involving collateral and personal guarantees, demanded by creditors.
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