A Note in Which the Maker States, "I Promise to Pay

question 29

Multiple Choice

A note in which the maker states, "I promise to pay to the order of Oliver $600 or a six-string guitar" is:

• A) not negotiable because it contains a conditional promise.
• B) negotiable for payment of the guitar only.
• C) negotiable for payment only if Oliver is the holder of the instrument.
• D) not negotiable because it is not payable for money alone.

---

Definitions:

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment, comparing the gain from an investment relative to its cost.

Income From Operations

The earnings generated from a company's regular business activities, excluding revenues and expenses from non-operational sources.

Residual Income

The amount of income that exceeds the minimum rate of return expected by a company or investor.

Performance Measure

Metrics or benchmarks used to gauge an individual's, department's, or organization's performance against expected results or goals.