Which of the Following Is Not True Regarding a Promissory

question 205

Multiple Choice

Which of the following is not true regarding a promissory note?

• A) Promissory notes may not be transferred to another party by endorsement.
• B) Promissory notes may be sold to another party.
• C) Promissory notes give a stronger legal claim to the holder than accounts receivable.
• D) Promissory notes may be bearer notes and not specifically identify the payee by name.

---

Definitions:

Basic Source

Refers to the primary or fundamental origins of information or data used in research and analysis.

Property Tax

A tax on the value of property (capital, land, stocks and bonds, and other assets) owned by firms and households.

Transfer Payments

Transfer payments are financial distributions that do not directly correspond to the receipt of goods or services, such as welfare benefits or government subsidies.

Exhaustive

Involving an extensive and thorough examination or analysis of a subject or thing, leaving no part overlooked.