Under Article 3 of the UCC, a note is a promise by one party to pay a certain sum of money to another party. Two parties are involved: the maker and the payee. Payment may be set at some time in the future
a. True
b. False
Indicate whether the statement is true or false
True
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The top global merchandise exporter is:
A) China. B) Germany. C) the United States. D) Japan. E) Korea.
Analytical procedures What is the purpose of using analytical review procedures in the final review stages of the audit?
Digital catalogs offer all of the following benefits EXCEPT ________
A) presenting an almost unlimited amount of merchandise B) offering a broad assortment of presentation formats, including search and video C) adding and removing products as needed D) adjusting prices instantly to meet demand E) touching the product
Which of the following is/are not true?
a. U.S. GAAP and IFRS require firms to recognize the cost of retirement benefits (pensions, health care, life insurance) as an expense while employees work, not when they receive payments or other benefits during retirement. b. Employers often contribute cash to a trust, an entity legally separate from the employer, to fund their retirement obligations. c. The accounting records of the trust established to fund the retirement obligations are separate from the accounting records of the employer, and the amounts on the two sets of books usually differ. d. Payments to employees come from both the employer's contributions and investment returns of the firm's long term investment assets established to fund the retirement obligations. e. all of the above