Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 20 Not yet answered Marked out of 1.00 Flag question Question text Which of the following is not true for promissory note? a. The
Question 20
Not yet answered Marked out of 1.00 Flag question Question text
Which of the following is not true for promissory note? a. The promisor is not a substitute b. The liability of the debtor cannot be shifted to any other person c. The debtor draws the instrument d. It requires acceptance by the drawee Clear my choice Question 21
Not yet answered Marked out of 1.00 Flag question Question text
Which one of the following is not true for running account? a. This account is offered to corporates b. Bank allows Overdraft facility c. There is no limit of withdrawal d. Banks do not pay any interest on the credit balance
Question 20
Not yet answered
Marked out of 1.00
Flag question
Question text
Which of the following is not true for promissory note?
a.
The promisor is not a substitute
b.
The liability of the debtor cannot be shifted to any other person
c.
The debtor draws the instrument
d.
It requires acceptance by the drawee
Clear my choice
Question 21
Not yet answered
Marked out of 1.00
Flag question
Question text
Which one of the following is not true for running account?
a.
This account is offered to corporates
b.
Bank allows Overdraft facility
c.
There is no limit of withdrawal
d.
Banks do not pay any interest on the credit balance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial accounting
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
9th edition
978-0132751216, 132751127, 132751216, 978-0132751124
