Reference Initials Are _________

question 13

Multiple Choice

Reference initials are _________.

• A) always used
• B) are used if the sender is the typist
• C) are used if the sender and typist are different.
• D) are optional

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Definitions:

Interest Charged

The cost incurred by borrowing money, calculated as a percentage of the principal amount loaned.

Discounted Note

A financial instrument representing a promise to pay, which is sold for less than its face value before maturity.

Note Proceeds

The amount of money generated from issuing a note payable, which is a written promise to pay a specified sum of money at a future date.

Interest-bearing Note

A debt instrument in which the borrower agrees to pay back the principal sum along with interest on a specified date.