On Which of the Following Dates Does a Three-Month Note

question 72

Multiple Choice

On which of the following dates does a three-month note dated November 12 mature?

• A) February 10
• B) February 12
• C) February 13
• D) February 11

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Definitions:

Par Common Stock

The face value of common stock as stated in the corporate charter, which is the minimum amount at which shares can initially be sold.

Par Preferred Stock

A type of preferred stock that is issued at its nominal or face value, and typically has a fixed dividend rate.

Debit to Cash

An accounting entry that increases the cash balance in a company's books.

Paid-In Capital

The total amount of money investors have contributed to a company in exchange for equity.