Examlex
What are the three vital functions an accounting system servers? Please define each.
Requirements of Negotiability
Legal criteria that an instrument must meet to be considered negotiable, allowing it to be transferred from one party to another.
Certificate of Deposit
A savings certificate with a fixed maturity date and specified fixed interest rate that is issued by a bank and is insured by the Federal Deposit Insurance Corporation (FDIC).
Promissory Note
A written promise to pay a specified amount of money to a designated person or entity by a certain date or on demand.
Maker
The individual or entity that creates or signs a negotiable instrument, committing to pay the specified sum to the holder.
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