The Business Hours and Location of a Financial Institution Refer

question 43

Multiple Choice

The business hours and location of a financial institution refer to the ____________ factor of selecting a financial institution.

• A)safety
• B)cost
• C)compounding
• D)liquidity
• E)convenience

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Definitions:

Accrued Interest

Interest that has been incurred but not yet paid or received in cash.

Notes Receivable

Written promises for amounts to be received by a business, typically recognizable as assets on the balance sheet because they represent a legal obligation for the payer to settle the debt.

Interest Receivable

The amount of interest income that has been earned but not yet received in cash.

Note Receivable

A written promise that signifies an entity or person will receive a specified sum of money at a defined future date.