Difference between revisions of "Promissory note"
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According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Promissory note]]. A formal written promise by a borrower to pay a certain sum at a fixed future date. | :[[Promissory note]]. A formal written promise by a borrower to pay a certain sum at a fixed future date. | ||
| + | According to [[Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition)]], | ||
| + | :[[Promissory note]]. A document specifying the terms and conditions of a loan, including the amount, interest rate, and repayment schedule. | ||
==Related concepts== | ==Related concepts== | ||
Latest revision as of 21:19, 28 October 2019
Promissory note is a formal written promise by a borrower to pay a certain sum at a fixed future date.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Promissory note. A formal written promise by a borrower to pay a certain sum at a fixed future date.
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Promissory note. A document specifying the terms and conditions of a loan, including the amount, interest rate, and repayment schedule.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
