The maturity date of a note receivable:
A) Is the last day of the month.
B) Is the day the note was signed.
C) Is the day the note is due to be repaid.
D) Is the date of the first payment.
E) Is the day of the credit sale.

Question

Quizplus · Accepted Answer

The maturity date of a note receivable is the date on which payment is due. This is the day on which the borrower is required to repay the principal amount borrowed plus any accrued interest. Therefore, option C is the correct choice.

The Maturity Date of a Note Receivable