Who Has the Responsibility for Marking "Consumer Note" on a Promissory

question 46

Multiple Choice

Who has the responsibility for marking "consumer note" on a promissory note used in a consumer transaction?

• A)The vendor
• B)The bank
• C)The holder in due course
• D)third party receiving the note
• E)The purchaser

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Definitions:

Ending Capital Balance

The amount of capital a company or individual has at the end of a financial period.

Withdrawals

Amounts taken out from a business by its owner(s) for personal use, reducing the owner's capital account.

Net Income

The company's overall earnings following the deduction of all expenses and taxes from its total revenue.

Statement Of Owner's Equity

A report that summarizes the fluctuation in the equity of a business due to profits earned, dividends paid, and capital invested during a specific period.