A Written Promise to Pay a Definite Sum of Money

question 62

Multiple Choice

A written promise to pay a definite sum of money on a specific future date is a(n) :

• A)Unearned revenue
• B)Prepaid expense
• C)Credit account
• D)Note payable
• E)Account receivable

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Definitions:

Revenue-based Rationales

Justifications or reasons for business decisions that are primarily focused on increasing or affecting revenue streams.

Downsizing Decisions

The process of determining when and how to reduce the workforce to improve organizational efficiency or reduce costs.

Organizational Objectives

Specific goals that an organization aims to achieve in a set timeframe, which guide strategic and operational decision-making.

Corporate Social Responsibility

Practices and policies undertaken by corporations to promote positive social and environmental impacts beyond legal requirements.