A Special Draft That Orders the Bank to Pay a Fixed

question 88

Multiple Choice

A special draft that orders the bank to pay a fixed amount of money on demand is a[n] ________.

• A)Promissory note
• B)Promissory draft
• C)Check
• D)Note
• E)Acknowledgment draft

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Definitions:

Profit Margin

is the percentage of revenue that remains as profit after all expenses are subtracted from sales.

Return On Investment

A measure of the profitability and efficiency of an investment, calculated by dividing the gain from an investment by the cost of the investment.

Invested Assets

Assets that are purchased or acquired for the purpose of generating income or profit.

Income From Operations

This represents the earnings generated from the normal business operations of a company, excluding non-operating income and expenses.