Match the Following Terms with Their Definitions

question 20

Multiple Choice

Match the following terms with their definitions.
-Proceeds

• A)Number of days bank will wait for its money in the discount process
• B)Cash paid on due date
• C)The principal
• D)Maturity value minus bank discount
• E)A written promise
• F)Bank deducts interest in advance
• G)Signs the note
• H)Rate bank charges in the discounting process
• I)True rate of interest
• J)Due date
• K)Ability to borrow quickly
• L)Amount bank charges in the discounting process
• M)Maturity value greater than original note

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Definitions:

Normative

Relates to establishing, relating to, or deriving from a standard or norm, particularly in the context of ethics or societal norms.

Instrumental

Characterized by practicality and utility, often prioritizing efficiency and effectiveness towards achieving a goal.

Rational

Pertaining to actions, decisions, or beliefs that are based on reason or logical analysis rather than emotions or irrational factors.

Collective Nature

The inherent characteristics or behaviors that emerge from the interactions and relationships within groups or societies.