A formal, written instrument of credit that represents amounts due from customers
A)Face amount
B)Term
C)Interest
D)Maturity value
E)Dishonored note
F)Maker
G)Notes receivable
H)Interest rate

Question

A formal, written instrument of credit that represents amounts due from customersA)Face amountB)TermC)InterestD)Maturity valueE)Dishonored noteF)MakerG)Notes receivableH)Interest rate

Brenda Tehrani · Accepted Answer

Final Answer : g, Explanation :  Notes receivable is the term that refers to a formal, written instrument of credit that represents amounts due from customers.Answer: FMaker refers to the person or entity that signs the note as the borrower and promises to repay the amount due.Answer: AFace amount is the amount stated on the face of the note, which represents the principal amount borrowed.Answer: DMaturity value refers to the total amount due on the note at its maturity date, which includes the face amount and any accrued interest.Answer: HInterest rate refers to the percentage of the face amount that is charged as interest over the term of the note.Answer: EDishonored note is a note that has been presented for payment and has been refused or rejected by the borrower or maker.Answer: BTerm refers to the length of time over which the note is due and must be repaid, which is typically stated in months or years.

A formal, written instrument of credit that represents amounts due from customers
A)Face amount
B)Term
C)Interest
D)Maturity value
E)Dishonored note
F)Maker
G)Notes receivable
H)Interest rate

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Learning Objectives

Learning Objectives

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