A promissory note
A) is not a formal credit instrument.
B) may be used to settle an accounts receivable.
C) has the party to whom the money is due as the maker.
D) cannot be factored to another party.

Question

Quizplus · Accepted Answer

A promissory note is a formal credit instrument, but it may be used to settle an accounts receivable. The party who owes the money is the maker of the promissory note, and it can be factored to another party.

A Promissory Note