When the Due Date of a Note Is Stated in Months

question 88

True/False

When the due date of a note is stated in months the time factor in computing interest is the number of months divided by 360 days.

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Definitions:

FCFS

First Come, First Served, a method of service or resource allocation where requests are processed in the order that they were received.

EDD

Stands for Earliest Due Date, a rule used in production and operations management to prioritize jobs, tasks, or items that have the earliest due dates first.

SPT

Shortest Processing Time, a rule used in job sequencing to decrease the total amount of time required to complete a set of jobs by processing the shortest job first.

LPT

Longest Processing Time; a rule used in job scheduling that sequences jobs in decreasing order of their processing times.