Whenever a period is designated in an obligation, the said period shall presumed to have been established for the benefit of: a. The debtor b. Both the debtor and creditor c. None of the above d. The creditor

Whenever a period is designated in an obligation, the said period shall presumed to have been established for the benefit of: a. The debtor b. Both the debtor and creditor c. None of the above d. The creditor

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 14MCQ

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Question

Whenever a period is designated in an obligation, the said period shall presumed to have been established for the benefit of:

a. The debtor

b. Both the debtor and creditor

c. None of the above

d. The creditor

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please ansert the following questions thanks