An Unconditional Written Promise to Pay a Definite Sum of Money

question 38

Multiple Choice

An unconditional written promise to pay a definite sum of money on demand or on adefined future date (or dates) is a(n) :

• A)Unearned revenue.
• B)Promissory note.
• C)Account payable.
• D)Account receivable.
• E)Prepaid expense.

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Definitions:

Corruption

The abuse of entrusted power for private gain.

Hollywood Films

Movies produced in Hollywood, California, known for being the historical center of movie studios and film stars in the U.S.

Mr. Deeds Goes to Town

A 1936 American comedy film directed by Frank Capra, about a small-town man who inherits a fortune and moves to the city, facing challenges and corruption.

Fair Labor Standards Act

A United States law enacted in 1938 to protect workers by setting standards for minimum wage, overtime pay, and child labor regulations.