A Promise to Pay a Certain Sum of Money to Another

question 105

Multiple Choice

A promise to pay a certain sum of money to another party is a type of commercial paper called a(n) :

• A) note
• B) check
• C) obligation
• D) promise
• E) draft

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Definitions:

Head of Household

Head of Household is a filing status for individual U.S. taxpayers who are unmarried and pay more than half the cost of keeping up a home for themselves and a qualifying person.

Dependent Widowed Mother

A widowed mother who relies on another, typically her child, for financial support and can be claimed as a dependent for tax purposes if certain criteria are met.

Legally Divorced

A status that indicates a person has completed the legal process of divorce, thereby dissolving the marital relationship under law.

Full-Time Student

A student who is enrolled in a higher education institution for the number of hours or courses the school considers to be full-time attendance.