The Maturity Date for a 60-Day Note Dated February 10,2012,a

question 23

Multiple Choice

The maturity date for a 60-day note dated February 10,2012,a leap year is:

• A)February 10.
• B)April 10.
• C)April 11.
• D)April 9.

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Definitions:

Assets

Resources owned by a company or individual that have economic value and can provide future benefits.

Debits

Accounting entries that increase assets or expenses and decrease liabilities, equity, or revenue.

Credits

Entries that increase liabilities, revenues, or equity, or decrease assets or expenses in accounting.

Transferring

The process of moving items, such as data, assets, or inventory, from one location or account to another.