Which of the Following Is a Two-Party Instrument

question 32

Multiple Choice

Which of the following is a two-party instrument?

• A) deed of trust
• B) mortgage
• C) both a deed of trust and a mortgage
• D) neither a deed of trust nor a mortgage

---

Definitions:

Cash

Money in the form of coins or banknotes held by an individual or organization, readily available for transactions.

Adjusting Entries

Bookkeeping entries executed at the termination of a financial period for the purpose of apportioning earnings and expenses to the actual period they took place.

Balance Sheet Accounts

Accounts appearing on the balance sheet, representing a company's assets, liabilities, and equity at a specific point in time.

Income Statement Accounts

Accounts that reflect income, expenses, gains, and losses, which are used to determine the net income of a business.