A 30-Day Note Dated September 8 Has a Maturity Date

question 28

Multiple Choice

A 30-day note dated September 8 has a maturity date of

• A)October 8.
• B)October 7.
• C)October 9.
• D)October 6.

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Definitions:

Vacation Benefits Payable

Liabilities owed to employees for vacation time earned but not yet taken.

Payroll Bank Account

A dedicated bank account used exclusively for processing payroll and related transactions to ensure accurate tracking and management of employee payments.

Payroll Register

A document that records each employee's gross earnings, deductions, and net pay for a specific payroll period.

Federal Depository Bank

A financial institution that is authorized to hold deposits for the Federal Reserve System, providing banking services to the government and the public.