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In establishing procedures for setting cutoff scores, organizations should stress the job-relatedness of the assessment procedure and de-emphasize validity.
Promissory Note Payable
A financial instrument that signifies a written promise by one party to pay a specific sum of money to another party under agreed terms.
360-Day Year
A simplified method of calculating interest for commercial loans or bonds that assumes each month has 30 days, resulting in a 360-day year.
Interest
The cost of borrowing money or the return on investment, typically expressed as a percentage over a period of time.
Principal
The original sum of money borrowed in a loan, or the amount of the investment on which interest is calculated.
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