The Services and Information a Company Acquires from Its Vendors

question 9

Multiple Choice

The services and information a company acquires from its vendors is ______.

• A)tangible
• B)intangible
• C)finished goods
• D)raw Materials

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Definitions:

Maturity Date

The specific date on which the principal amount of a bond, loan, or other financial instrument is due to be paid in full.

Note Dated

Indicates the specific date on which a note payable, receivable, or other legal financial document becomes effective.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Accounts Receivable

Amounts owed to a business by its customers from sales or services rendered on credit that are expected to be collected in cash.