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    Financial Accounting Tools Study Set 2
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    Exam 8: Reporting and Analyzing Receivables
  5. Question
    A Promissory Note
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A Promissory Note

Question 56

Question 56

Multiple Choice

A promissory note


A) is not a formal credit instrument.
B) may be used to settle an account receivable.
C) has the party to whom the money is due as the maker.
D) cannot be factored to another party.

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