The Legislation Creating Promissory Notes Is Found in Which Statute

question 45

Multiple Choice

The legislation creating promissory notes is found in which statute?

• A) Promissory Notes Act.
• B) Bills of Exchange Act.
• C) Securities Act.
• D) Financial Instruments Act.
• E) Personal Property Security Act.

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Definitions:

Other Comprehensive Income

Earnings derived from non-operational activities that are not included in net income, recorded in equity.

Revaluation

Revaluation is an adjustment to the carrying value of a currency, asset, or liability to reflect its current market value.

Revaluation

The process of adjusting the carrying value of an asset or liability to reflect its current market value.

Journal Entries

Records that detail all the financial transactions of a business, used in the double-entry bookkeeping system.