A Definite Time Required for Negotiability Would NOT Be Satisfied

question 30

Multiple Choice

A definite time required for negotiability would NOT be satisfied in which instance?

• A) Payable on or before January 1,2015
• B) Payable one week after demand is made
• C) Payable one year from the completion of the building
• D) A dated instrument payable "90 days after date"

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Definitions:

Percentage of Net Sales

A financial ratio that represents certain expenses, liabilities, or profits as a percentage of the net sales, used to analyze the financial health and performance of a business.

Bad Debts

Amounts owed to a company that are considered uncollectible, typically due to the debtor's inability to pay.

Factoring Commissions

Factoring commissions are fees paid to a factor, or financial intermediary, for advancing funds to a business by purchasing its accounts receivable.

Accounts Receivable

Amounts owed to a business by its customers for goods or services delivered or used but not yet paid for.