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marysya [2.9K]
2 years ago
10

Failure by a promissory notes maker to pay the amount due at maturity is known as_________.

Business
1 answer:
Andreas93 [3]2 years ago
5 0

Failure by a promissory notes maker to pay the amount due at maturity is known as Dishonoring a note.

A dishonored note is a that  promissory note which has not been paid by a debtor in a given  reasonable amount of time.  It causes the creditor to write off the recorded revenue as a  bad debt.

With the help of promissory note, a buyer  can make a short-term commitment to pay any supplier for merchandise within the stated time period and  also at a certain interest rate.

In order to properly record a dishonored note in the financial journal of the organization one must first decide whether he is  expecting to  collect payment eventually or not.

A bill is  always considered as dishonored either by non-acceptance or by non-payment of the bill.

To know more about dishonored note here:

brainly.com/question/9220878

#SPJ4

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<h3>What is Free Trade?</h3>

A free trade policy is one in which imports and exports are not restricted. It is also known as the free market concept applied to international trade. Most countries now participate in multilateral trade agreements negotiated by the World Trade Organization. Goods and services can be purchased and sold across international borders with little or no government taxes, quotas, subsidies, or bans impeding their interchange under a free trade policy. Trade protectionism and economic isolationism are the polar opposites of free trade.

To learn more about Free Trade from the given link

brainly.com/question/10608502

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