What features should be present in a bill so that it meets promissory requirements?
What will be an ideal response?
To be negotiable, a bill or note must (1) be in the proper form and (2) contain a promise by the maker or drawer to make payment.
To meet the promissory requirements, a bill or note must do the following:
1, State an unconditional promise or order to pay.
2, State a definite sum of money or a monetary unit of account.
3, Be payable on demand or at a definite time.
4, Be signed by the maker or drawer.
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On December 1, 2017, Galahad, Inc had 200,000 shares of $1 par value common stock issued and outstanding
The next day Galahad declared and distributed a 50% stock dividend. The market value of the stock on December 2, 2017 was $9 per share. Prepare the journal entry for the transaction. What will be an ideal response
While Coca-Cola is involved in pro-environment activities, it does not widely publicize these activities because company leaders believe they will not gain more customers
Indicate whether the statement is true or false