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Keywords: loan covenants
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Journal Articles
Issues in Accounting Education (2013) 28 (4): 983–989.
Published: 01 November 2013
... used to fund a portion of the purchase cost of the equipment. The new installment note includes loan covenants requiring that CAC not exceed a debt-to-assets level of 55 percent and that it maintain a minimum current ratio of 1.75. The debt-to-assets ratio is calculated using total liabilities...