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14 December, 03:14

A written promise to pay certain sum of money to another person or company is a

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Answers (2)
  1. 14 December, 05:03
    0
    Liability (Promissory note payable)

    Explanation:

    A liability is a present obligation of an entity as a result of a past event for which future economic benefits will flow from the entity.

    The writing of a promise to pay is the past event that will result in the outflow of resouces (cash) at a future date. However, the obligation to pay is present.
  2. 14 December, 06:09
    0
    Promissory Notes Receivable
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