In 1901, Connecticut Established the World's First Speed Statute Limiting

question 47

Multiple Choice

In 1901, Connecticut established the world's first speed statute limiting the speed of

• A) boats.
• B) roller skaters.
• C) horse-drawn carriages.
• D) horseless carriages.
• E) bicycles.

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Definitions:

Cash Loan

A sum of money borrowed that must be paid back with interest.

Interest Revenue

Earnings received from investments in interest-bearing assets like loans, bonds, and savings accounts.

Notes Receivable

Notes receivable are written promises for payments to be received, including principal and possibly interest, recognized as assets on a company's balance sheet.

Promissory Note

A financial instrument that contains a written promise to pay a specified sum of money to another party at a determined future date or on demand.