A Given Sum of Money Received Each Year for a Specific

question 105

Multiple Choice

A given sum of money received each year for a specific number of years is called a(n)

• A)bond
• B)perpetuity
• C)debt
• D)discount
• E)annuity

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Definitions:

Unauthorized Signature

A signature placed on a document by someone not explicitly authorized to do so by the person whose signature is forged.

Negotiable Instruments

Financial documents that guarantee the payment of a specified amount of money, either on demand or at a set time, with the payer named on the document.

Japanese Commercial Code

is a collection of laws that governs commercial transactions in Japan, including company law, commercial paper, and bankruptcy proceedings.

Holder

An individual or entity that possesses a negotiable instrument, such as a check or promissory note, and has the right to enforce it.