A(n) ________ Is Type of Instrument That Is Payable to Anyone

question 19

Multiple Choice

A(n) ________ is type of instrument that is payable to anyone in physical possession of the instrument and presents it for payment when it is due.

• A) certificate of deposit
• B) order instrument
• C) bearer instrument
• D) check

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Definitions:

Inventory

The total amount of goods or materials held in stock by a business, intended for sale or production.

Average Collection Period

The average amount of time it takes for a business to receive payments owed by its customers for credit sales.

Sales on Account

Transactions where goods or services are sold and payment is deferred to a future date, typically recorded as accounts receivable.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered or used but not yet paid for.