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.
Answer: B
You might also like to view...
Whenever a company elects to make sales on account, it is inevitable that some receivables will become uncollectible
a. True b. False Indicate whether the statement is true or false
Selected data from the accounting records of Webb Company are listed below: General & administrative expenses $2,200 Operating revenues $6,000 Selling expenses 1,800 Income taxes 600 Other revenues (expenses) 800 Dividends paid 1,200 Read the information about Webb Company. What is Webb's income from operations?
a. $ 1,600 b. $ 2,000 c. $ 2,200 d. $ 2,800
A functional organization allows for adequate planning as the number of products and markets of a firm increases
Indicate whether the statement is true or false
Most business presentation visuals for nonlinear presentations are created using
A. Prezi B. Overhead transparencies C. Microsoft PowerPoint D. Flip charts E. Chalkboards and whiteboards