Question

Sometimes the purchaser of goods himself writes a note to pay a certain sum of money, signs it and gives it
to the seller of the goods. This type of instrument is known as
a) Bills Payable
b) Promissory Note
c) Credit Note
d) Debit Note

Answer 1

Answer:

b is the correct answer to be chosen

Please mark me as brainlist

Answer 2

(b) Promissory Note

• A promissory note is a lawful, monetary apparatus pronounced by a party, promising one more party to pay the obligation on a specific day. It is a composed arrangement endorsed by the cabinet with a guarantee to pay the cash on a particular date or at whatever point requested.

• All promissory notes comprise three essential gatherings. These incorporate the drawee, cabinet, and payee.

• A large portion of the time, the payee and drawee are similar individuals to whom the money is paid. The party who has credited the cash keeps the promissory note, and when the due is cleared, the payee or drawee drops the note and gives it to the cabinet/payee.