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Grouper Company arranged for a line of credit with its local bank. The company can borrow up to $100,000 as needed. Grouper pays a bank fee of $200 per year regardless of any specific borrowing under the arrangement. This is an example of_________________

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oyejam

Answer:

This is an example of a non committed line of credit

Explanation:

Non committed line of credit is a way company used in getting loan without following official procedure. As Grouper company borrow up to $100,000 as at when needed without special officer paperwork, the line of credit is non committed line of credit.

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