Ask Question
BusinessBusiness
20 October, 11:03

MVJ Corp., a market research firm, borrows $2 million from trimitium bank. while negotiating with the bank, the firm signs a promissory note, which specifies that the firm must pay the borrowed amount in 90 days with interest. however, the bank also requires the firm's inventories and receivables to be pledged as collateral to back the loan. which of the following financing options is being offered by trimitium bank in the given scenario?1. spontaneous financing2. short-term bank loans3. bank debit4. factoring

+4
Answers (1)
  1. 20 October, 11:32
    0
    Option "2" is the correct answer to the following statement.

    Explanation:

    A short-term loan is a form of loan received to endorse short term business and personal wealth for a very short period. It is a tempting and temporary option, for most of the short term businesses which are not easily eligible for a loan from a financial institution.

    This type of loan mostly paid back in a very short period usually in 12 months.

    In this case, MVJ gets a loan for 90 days or 3 months so it is considered a short term loan.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “MVJ Corp., a market research firm, borrows $2 million from trimitium bank. while negotiating with the bank, the firm signs a promissory ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Cadmium Technologies Inc. believes that the sole purpose of its existence is to maximize profits for its stockholders. The firm has often been criticized for not engaging in any social investments.
Answers (1)
In economics, when discussing the factors of production, the term land refers to A) farmland. B) real estate. C) capital goods. D) all natural resources.
Answers (2)
Eliza takes her 1-year-old son, danny, to visit an infant-toddler program in which she hopes to enroll him. danny eagerly explores the room as long as eliza is present. when eliza leaves the room to fill out some forms, danny becomes somewhat upset.
Answers (1)
Joe lit a fire in his fireplace and left it unattended. He had failed to check to see if the flue was open, so the smoke entered the house and discolored the walls, ceiling, and drapes. Joe also had to hire a company to remove the smoke odor.
Answers (1)
Widget Corp. wants to shift its list of inventory to a cloud so that its different branches can access it easily. The company needs a cloud computing option that would provide high flexibility to add or drop resources.
Answers (2)
New Questions in Business
Now consider a strangle using the same call with a strike price of $100 and a different put with a strike price of $95. Both have the same expiration date.
Answers (1)
Mullineaux Corporation has a target capital structure of 70 percent common stock and 30 percent debt. Its costs of equity is 15 percent, and the cost of debt is 8 Percent. The relevant tax rate is 35 percent.
Answers (1)
That the total dollar amount of the debits equals the total dollar amount of the credits in the ledger accounts can be verified through a (n) a. balance sheet b. trial balance c. chart of accounts d. income statement
Answers (1)
Coronado Shoes Fool Inc. is involved in litigation regarding a faulty product sold in a prior year. The company has consulted with its attorney and determined that it is possible that they may lose the case.
Answers (1)
Suppose during 2014 that Federal Express reported the following information (in millions) : net sales of $35,497 and net income of $98.
Answers (2)
Home » Business » MVJ Corp., a market research firm, borrows $2 million from trimitium bank. while negotiating with the bank, the firm signs a promissory note, which specifies that the firm must pay the borrowed amount in 90 days with interest.
Sign Up Forgot Password?