A 30-Day Note Dated June 13 Has a Maturity Date

question 81

Multiple Choice

A 30-day note dated June 13 has a maturity date of

• A) July 14.
• B) July 13.
• C) July 12.
• D) July 11.

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Definitions:

Promise To Pay

A written agreement in which one party pledges to pay a specified sum to another party under defined conditions.

UCC

The United States' commercial transactions are all managed under the extensive laws encompassed by the Uniform Commercial Code.

Corporate Account

A type of financial account specifically designed for businesses, enabling them to manage expenses, assets, and transactions under the corporate name.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee being able to transfer it to another party.