Answered: The following shall produce the effect…

The following shall produce the effect of payment of debts: Delivery of check Tender of Central Bank Notes Delivery of Promissory note None of choices

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

The following shall produce the effect of payment of debts:

Delivery of check

Tender of Central Bank Notes

Delivery of Promissory note

None of choices

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Similar questions

IFRS requires all of the following when classifying receivables except Select one: O a. Indicate the receivables classified as current and non-current in the statement of financial position. O b. All of these answer choices are required by IFRS when classifying receivables. Oc Disclose all significant concentrations of credit risk arising from receivables. Od. Disclose any receivables pledged as collateral.
In which of the following withdrawal of funds by a person from a bank can be made on maturity date as agreed with the bank a. Loans b. Fixed Deposit c. Current deposit d. Saving Deposit
Which field typically appears in the Bank Register but not usually in reports?
When a business endorses a note and transfers it to a bank, the process is called a discounting a note receivable. b. dishonoring a note receivable e cosigning a note receivable d. collecting a note receivable
If a bill of exchange is discounted and on the date of maturity such bill of exchange was dishonored by the acceptor, what will the bank do to collect such amount?
In the reconciliation of a bank statement, "deposits in transit" should be:a. added to the unadjusted book balanceb. subtracted from the unadjusted bank balancec. added to the unadjusted bank balanced. subtracted from the unadjusted bank balance
Credits given by the bank are: Select one alternative: Bank’s liabilities Credits are not classified in bank’s balance sheet Bank’s assets
Which of the following terms does not refer to the amount that is paid by the note issuer to the creditors at the end of the life of the note? a. Face value b. Maturity value c. Carrying value d. Principal amount
Do items reported as a credit memorandum on the bank statement represents (a) additions made by the bank to the company’s balance or (b) deductions made by the bank from the company’s balance? Explain.
What item on the bank statement that may differ from the company's financial records. NSF check interest earned outstanding checks service charge
a contract that is negotiated direclty between a borrowing firm and a bank and under which the borrower agrees to make a series of interest and principal payments to the bank on specific dates is called:
4. Which of the following statements about promissory notes is incorrect? a. Interest is the revenue to the maker of the note b. The party making the promise to pay is the debtor c. The party to whom payment is to be made is the creditor d. The maturity date of the note is the date when final payment of the note is due

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