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If an Instrument States No Time for Payment, the Note

question 30

True/False

If an instrument states no time for payment, the note is payable on demand.


Definitions:

Average Revenue

Average revenue refers to the amount of money generated per unit of product sold, calculated by dividing total revenue by the number of units sold.

Marginal Cost

The additional expenditure required to produce one more unit of a product or service.

Marginal Revenue

The additional income that is generated from selling one more unit of a good or service.

Marginal Cost

The financial outlay for producing a subsequent unit of a product or service.

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