The Two Key Parties to a Promissory Note Are the

question 129

Multiple Choice

The two key parties to a promissory note are the

• A) maker and a bank.
• B) debtor and the payee.
• C) maker and the payee.
• D) sender and the receiver.

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Definitions:

Journal Entry

A record in accounting that represents a transaction or financial event affecting the entity's financial statements, involving at least one debit and one credit.

Annual Year-End

The conclusion of a 12-month financial year period on which a company's annual financial statements are based.

Installment Note

A loan or credit agreement that requires a fixed number of payments over a specified period of time.

Annual Year-end Payments

Payments made at the end of the fiscal year, which can include bonuses, dividends, or debt payments.