Valley National Bank issued a note promising to repay an investor on October 1, 2011, three years from the date of issue, plus interest. The note
a. is a certificate of deposit, and it will pay a lower rate of interest than a regular savings account at Valley.
b. is a certificate of deposit, and it will pay a higher rate of interest than a regular savings account at Valley.
c. is a certificate of deposit, and whether the bank pays a higher or lower rate of interest than it pays on its regular savings accounts depends upon particular bank policy.
d. constitutes a trade acceptance.
b
You might also like to view...
If an agent uses the money of the principal for the agent's purposes, the principal may choose either to sue for the money or to obtain whatever was purchased with it.
Answer the following statement true (T) or false (F)
________ are appropriate when there is a single measurement of each element in the sample, or there are several measurements of each element but each variable is analyzed in isolation
A) Interdependence techniques B) Dependence techniques C) Multivariate techniques D) Univariate techniques
Careful analysis of the capital budget is an important control activity for
a. variable costs. b. discretionary costs. c. committed costs. d. period costs.
If a person writes a check that bounces, that person is automatically guilty of a crime under most
state bad check statutes. Indicate whether the statement is true or false