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.

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Definitions:

Receding Axis

An imaginary line that moves away from the observer, often used in technical drawing to illustrate depth or perspective.

True Size

The accurate, intended size of a feature as defined by its dimensions without any tolerance applied.

Oblique Pictorial

A form of pictorial drawing in which the object is presented at a tilt to reveal details, with one face shown in true scale and the others angled.

Receding Axis

An axis that appears to move away or diminish in size in a perspective drawing or model.