Credits – Practice 1
Choose the correct answer:
- A contract detailing the terms of a promise by one party (the maker) to pay a sum of money to the other (the payee) is
- A type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing is called
- A binding document that a buyer can request from his bank in order to guarantee that the payment for goods will be transferred to the seller is
- The total amount you owe on a particular debt is
- An amount of a loan that remains to be paid is called
- When you have taken more money out of your account than you had in it, the account is
- The person or organization which extends credit to others is
- The person who guarantees an obligation and has a legal duty to fulfill it is
- Taxpayers must pay a(n) when the total tax is greater than their total tax payments.
- The portion of receivables that can no longer be collected, typically from accounts receivable or loans is called