A Continuous Vent Is One That Remains Open Even When

question 21

True/False

A continuous vent is one that remains open even when fixtures are not being used.

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Definitions:

Principal Value

The original sum of money invested or loaned, before interest or any profit earned.

Note Receivable

An asset on the balance sheet representing money owed to the holder by a debtor, which includes an obligation to pay both the principal and interest.

Dishonoured

Refers to a financial instrument, such as a check or a bill, that is not paid upon presentation for settlement.