Which of these statements about promissory notes is incorrect? (a) The party making the promise to pay
Question:
Which of these statements about promissory notes is incorrect?
(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 
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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