​There Are Three Parties on a Promissory Note: the Maker,the

question 9

True/False

​There are three parties on a promissory note: the maker,the drawee,and the payee.

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Definitions:

Salary

A fixed regular payment, typically monthly or biweekly, made by an employer to an employee, especially a professional or white-collar worker.

Interest Allowances

Financial incentives or rebates given to borrowers, typically reducing the amount of interest they need to pay on loans.

Salary Allowance

A fixed amount of money paid regularly to employees in addition to their normal salary for specific purposes.

Net Income

The total profit of a company after accounting for all costs and expenses, including taxes and interest.