Lines of credit are short-term loans
13. Lines of credit are short-term loans that are secured by collateral.
14. Municipal bonds are attractive to investors because interest earned on them is exempt from federal income tax
15. Price skimming is often used as an inducement to get consumers to switch brands or companies.
16. The balance sheet summarizes a firm’s financial position over a period of time, for instance 3 months or a year.
17. The four major groupings of consumer products are:
|A.||limited, generic, specialty, and unsought|
|B.||shopping, durable, limited, and nondurable|
|C.||unsought, convenience, shopping, and specialty|
|D.||brand, specialty, shopping, and generic|
|E.||convenience, brand, generic, and manufacturer|
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