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:

Complete Estate

A comprehensive ownership interest in a piece of property, including all rights, titles, and interests.

Conditional Estate

An interest in real property that is contingent upon the occurrence of a specified condition.

Library of Congress

The largest library in the world, located in Washington, D.C., serving primarily as a research library for the United States Congress and an invaluable resource of historical and academic materials.

Copyrighted Materials

Works such as books, music, film, or art that are protected under copyright law, ensuring creators have exclusive rights to use and distribute their work.