Examlex
A number of major compromises were made at the Philadelphia convention.Discuss three of them in some detail.
Principal
The original sum of money borrowed in a loan or the initial amount of investment, excluding any interest or profits.
Interest
A payment made for the use of borrowed money, usually calculated as a percentage of the principal amount.
Note Receivable
A written promise for amounts to be received by a debtor, where the debtor agrees to pay back the amount, often with interest, by a specified date.
Accounts Receivable Turnover
A financial ratio that measures how efficiently a company collects revenue from its credit sales, calculated as sales divided by average accounts receivable.
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