Multiple Choice
Match the terms with the definitions.
-The term of the note stated as a fraction of a year.
A) accrued interest on notes payable
B) time
C) proceeds (note receivable)
D) principal of the note
E) notes payable register
F) credit advice
G) maturity value
H) discounting a note receivable
I) dishonored
J) effective rate
K) promissory note
L) maker
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Accrued interest on notes payable is interest
Q3: When banks deduct interest on a note
Q4: Match the terms with the definitions.<br>-An interest
Q5: The maker of the note is the
Q6: Which of the following is usually expressed
Q7: Maturity value minus the discount amount is
Q8: Match the terms with the definitions.<br>-A note
Q9: If a business needs cash before the
Q10: Maturity value is equal to face value
Q11: When a note receivable matures, the amount