A Promissory Note

question 219

Multiple Choice

A promissory note

• A) is not a formal credit instrument.
• B) may be used to settle an accounts receivable.
• C) has the party to whom the money is due as the maker.
• D) cannot be factored to another party.

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Definitions:

Genuine Ownership

The authentic and rightful possession of an item or property, confirmed through legal or official means.

Merit Raise

A pay increase given to individual workers according to an evaluation of their performance.

Performance Evaluation

The process of assessing an employee's job performance against pre-determined standards or objectives.

Point System

A method of evaluation or reward where points are assigned based on performance or achievement.