Committed Resources Are

question 34

Multiple Choice

Committed resources are

• A)hard to purchase.
• B)purchased precisely at the time the resource is needed and have no unused capacity.
• C)supplied in advance of usage and may have unused capacity.
• D)none of the above.

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Definitions:

Checks

Checks are written, dated, and signed instruments that direct a bank to pay a specific amount of money from the writer's account to the person or entity in whose name the check has been issued.

Drafts

Written orders by one party (the drawer) to another (the drawee) to pay a specific amount of money to a third party (the payee) on demand or at a specified future date.

Promissory Notes

Written and signed agreements in which one party promises to pay another a specified sum of money either on demand or at a future date.

Specified Date

A particular or agreed upon day on which an event is scheduled to occur or a deadline is to be met.