If the Payee of the Instrument Is Not Mentioned on the Face

question 62

True/False

If the payee of the instrument is not mentioned on the face of the instrument,it is considered nonnegotiable.

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Definitions:

Net 30 Policy

A credit term indicating that payment is due in full 30 days after the invoice date.

Break-Even Level Of Sales

The amount of revenue from sales that is exactly sufficient to cover both fixed and variable costs, resulting in zero net profit or loss.

Variable Cost

A cost that varies directly with the level of production or sales volume.