A $25,000, 15%, 80-Day Note Dated November 5, Is Discounted

question 13

Multiple Choice

A $25,000, 15%, 80-day note dated November 5, is discounted at National Bank on January 5. The discount period is:

• A)80 days
• B)19 days
• C)61 days
• D)91 days
• E)None of these

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Definitions:

Bevel-Groove

A type of weld preparation where the edges of the parts to be joined are cut at an angle to accommodate a filler material.

J-Groove

A specific type of groove weld joint design that resembles the shape of the letter "J," used to facilitate deeper penetration of the weld and minimize weld material.

Flare Bevel-Groove

A type of groove weld where one piece is curved, and its edge is welded to the flat surface of another piece, often used for pipes or tubes.

Flange Welds

Welds that join flanges, which are plates or rings to form a rim or edge, to other components.