(SO 1) One of the following statements about promissory notes S is incorrect. The incorrect statement is:...
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(SO 1) One of the following statements about promissory notes S 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 more liquid than an account receivable.
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Related Book For
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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