An Instrument Is Payable to Order If It Is Payable

question 60

Multiple Choice

An instrument is payable to order if it is payable:

• A)to the order of an identified person.
• B)to an identified person or order.
• C)Both of the above.
• D)None of the above.

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Definitions:

Changes in Receivables

This refers to the variations in the amounts owed to a company by its customers over a specific period.

Sales Growth

The increase in sales over a specific period of time, often used as a measure of company performance.

Receivables Growth

A rise in the total money that customers owe a company for products or services provided on credit.

Long-Term Credit Sales

Sales made on credit with repayment terms extending beyond the normal operating cycle or one year.