Which of the Following Is True Regarding Payment on a Time

question 71

Multiple Choice

Which of the following is true regarding payment on a time instrument?

• A)It may be made payable at a past or future date so long as the method of computing interest is set forth either in the time instrument itself or in a separate document prepared in conjunction with the time instrument.
• B)It must be payable at a future time,and the date must be determinable through a separate instrument prepared in conjunction with the time instrument.
• C)It is payable in the same manner as a demand instrument.
• D)It must be payable at a specific future time which is easily determinable from the document itself.
• E)It may be made payable at a past or future date so long as a method for computing past-due interest is set forth in the document.

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