When a Business Receives a Promissory Note as Payment for Goods

question 62

Multiple Choice

When a business receives a promissory note as payment for goods or services and in turn sells the note to a bank it is called:

• A) proceed advance
• B) discounting
• C) maturity value
• D) fraud

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Definitions:

Readiness to Change

A measure of an individual's willingness to adopt new behaviors or take action towards personal growth or improvement.

Pre-contemplation

A stage in the change process where individuals are not yet considering change or are unaware of the need for change.

Confrontation

A direct form of communication where conflicting parties address and discuss their differences, often aiming for resolution or understanding.

Contracts

Written or verbal agreements between two or more parties that outline the terms and conditions of a particular arrangement or transaction.