Which of the following is a committed line of credit with no fixed maturity?
A) a bridge loan
B) evergreen credit
C) a promissory note
D) a blanket lien
Answer: B
Business
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The common law requires a note to contain the words "promissory note."
Indicate whether the statement is true or false
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If an asset is sold for more than its initial purchase price, the gain on the sale is composed of two parts: a capital gain and recaptured depreciation
Indicate whether the statement is true or false
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