In Reference to a Promissory Note,the Person Who Is to Receive

question 42

Multiple Choice

In reference to a promissory note,the person who is to receive payment is called the

• A)maker.
• B)payee.
• C)seller.
• D)payor.

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Definitions:

Demand Related

Pertaining to aspects, outcomes, or considerations that are influenced by the demand for products or services, such as pricing, production planning, or inventory levels.

Accurate Lot Sizes

It involves determining the optimal quantity of a product to order or produce, balancing costs and meeting demand efficiently.

MRP

Materials Requirement Planning, a production planning, scheduling, and inventory control system used to manage manufacturing processes efficiently.

Safety Stock

Extra inventory held to guard against uncertainty in demand or supply, minimizing the risk of stockouts.