A written promise to pay a specified amount of money at a particular future date is called a(n):
A)unearned revenue.
B)promissory note.
C)principal note.
D)mature note.

Question

Quizplus · Accepted Answer

A promissory note is a financial instrument that contains a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money, either on demand or at a specified future date.

A Written Promise to Pay a Specified Amount of Money