Question

Loan covenants are used for which of the following reasons?
a. To protect the lender from the borrower’s substantially weakening of the latter’s financial position.
b. To protect the borrower from the lender’s calling the loan early.
c. To protect the auditors from false information by the borrower.
d. To protect shareholders from management taking on too much debt.



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  • CreatedOctober 27, 2014
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