A Written Promise to Pay a Certain Sum of Money

question 29

Multiple Choice

A written promise to pay a certain sum of money to another person or company is a:

• A)Promissory Accounts Payable.
• B)Promissory Note Payable.
• C)Promissory Accounts Receivable.
• D)Promissory Note Receivable.

---

Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price, holding all else constant.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, typically used to assess inflation.

Inflation Rate

The growth rate in the common price range for goods and services, downgrading the practical purchasing scope.

Money Supply

The aggregate financial assets at a specific time in an economy.