If a Company Does Not Pay Its Note Payable on the Agreed

question 98

Multiple Choice

If a company does not pay its note payable on the agreed upon date,the note:

• A)is renewed automatically for the same period of time.
• B)is discounted at a higher rate of interest.
• C)is dishonored by the vendor.
• D)is automatically placed in collection with an outside agency.

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Definitions:

Combination

The action of combining two or more elements or things into a single entity or mixture.

Alleles

Different forms of a gene that arise by mutation and are found at the same place on a chromosome.

Type AB Blood

A blood type in the ABO blood group system characterized by the presence of both A and B antigens on the surface of red cells.

Homozygous Varieties

Organisms that possess two identical alleles for a specific gene or trait.