Match the Terms with the Definitions

question 48

Multiple Choice

Match the terms with the definitions.
-The interest amount paid divided by the proceeds received on a discounted note. This amount will differ from the stated rate on the face of the note.

• A)accrued interest on notes payable
• B)time
• C)proceeds (note receivable)
• D)principal of the note
• E)notes payable register
• F)credit advice
• G)maturity value
• H)discounting a note receivable
• I)dishonored
• J)effective rate
• K)promissory note
• L)maker

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Definitions:

Government Organizations

Entities established and funded by a government to perform specific functions or provide services to the public.

Flexibility

The ability to adapt quickly and effectively to changing conditions and circumstances.

Market Failure

A circumstance in which a free market's distribution of goods and services is inefficient, frequently warranting intervention by the government.

Contract Failure

A situation where the market fails to provide an efficient outcome, leading to a gap that nonprofits often aim to fill.