The Most Commonly Used Form of Draft Is A

question 488

Multiple Choice

The most commonly used form of draft is a:

• A) check
• B) note
• C) certificate of deposit
• D) deposit slip
• E) promissory note

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Definitions:

Amortized

Gradual reduction of a debt over a period of time through regular payments, which may include portions of both principal and interest.

Fully Depreciated

The status of an asset after its cost has been completely allocated over its useful life, leaving it with no book value.

Book Value

The net value of a company's assets minus its liabilities, as recorded on the balance sheet.

Special Acquisition Fees

Charges or expenses directly associated with the acquisition of a new business, property, or significant asset, often unique and non-recurring.