What are borrowers required to sign when accepting a long-term loan?
A) term-loan agreement
B) loan-collateral agreement
C) commercial paper
D) long-term line of credit
E) term of trade
Answer: A
Explanation: A) Long-term loans require that borrowers sign a term-loan agreement, a promissory note indicating specific installments, such as monthly or yearly, for repayment.
Business
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