The maturity date of a note receivable: Multiple Choice

a) Is the day the note is due to be repaid.

b) Is the day the note was signed.

c) Is the date of the first payment.

d) Is the last day of the month.

e) Is the day of the credit sale.

Question

Business

Clarissa Campbell

21 November, 01:34

The maturity date of a note receivable: Multiple Choice

a) Is the day the note is due to be repaid.

b) Is the day the note was signed.

c) Is the date of the first payment.

d) Is the last day of the month.

e) Is the day of the credit sale.

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Answers (1)

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Jacoby Cabrera · Answer 1

a) Is the day the note is due to be repaid.

Explanation:

A note receivable is a written commitment to receive an amount of money on a certain date and the maturity date refers to the day in which the complete amount needs to be fully paid. This date lets the lender know when he/she will receive all of the money back.

The maturity date of a note receivable: Multiple Choicea) Is the day the note is due to be repaid.b) Is the day the note was signed.c) Is the date of the first payment.d) Is the last day of the month.e) Is the day of the credit sale.

The maturity date of a note receivable: Multiple Choice

a) Is the day the note is due to be repaid.

b) Is the day the note was signed.

c) Is the date of the first payment.

d) Is the last day of the month.

e) Is the day of the credit sale.