One of the following statements about promissory notes is incorrect. The incorrect statement is: (a) The party

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One of the following statements about promissory notes is incorrect. The incorrect statement is:

(a) The party making the promise to pay is called the maker.

(b) The party to whom payment is to be made is called the payee.

(c) A promissory note is not a negotiable instrument.

(d) A promissory note is often required from highrisk customers.

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Financial Accounting Reporting, Analysis And Decision Making

ISBN: 9780730363279

6th Edition

Authors: Shirley Carlon

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Question Posted: Feb 11, 2024 03:00 AM

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One of the following statements about promissory notes is incorrect. The incorrect statement is: (a) The party

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Financial Accounting Reporting, Analysis And Decision Making

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