A Promisor Is a Person to Whom a Promise Has

question 11

True/False

A promisor is a person to whom a promise has been made.

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Definitions:

Business Transaction

An economic event or condition that directly changes an entity’s financial condition or directly affects its results of operations.

Journal

A detailed record where all financial transactions of a business are initially recorded in chronological order.

Laser Equipment

Tools or devices that use laser technology for various applications such as cutting, engraving, or medical surgery.

Purchased

Acquiring goods, services, or assets in exchange for money or its equivalent.