Lines of credit are a relevant way of external loan financing for companies. Which of the following sentence better represents the main difference between committed and uncommitted lines of credit?

• a) Uncommitted lines of credit are more reliable, more flexible, and cheaper than committed lines of credit, and firms can have it as a primary source of funding.

• b) Uncommitted lines of credit are less reliable, less flexible, and cheaper than committed lines of credit, and firms cannot have it as a primary source of funding.

• c) Uncommitted lines of credit are less reliable, more flexible, and cheaper than committed lines of credit, and firms cannot have it as a primary source of funding.