An Advantage of a Promissory Note Receivable Over an Account

question 105

Multiple Choice

An advantage of a promissory note receivable over an account receivable is that it:

• A) establishes formal proof against the borrower.
• B) has a specified interest rate and maturity date.
• C) collects interest revenue from the borrower.
• D) All of these answers are correct.

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Definitions:

Human Relations

The art of using systematic knowledge about human behavior to improve personal, job, and career effectiveness

Career Opportunities

Prospects or chances for progression and advancement in one's profession or occupation.

Human Relations Knowledge

Understanding of interpersonal dynamics and skills necessary for effective social interactions, especially in a professional setting.

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Pertains to the use of computers and telecommunications equipment to store, retrieve, transmit, and manipulate data.