Asked by Margaret Everett on Jun 12, 2024

verifed

Verified

Honoring a note receivable indicates that the maker has:

A) Signed.
B) Paid in full.
C) Guaranteed.
D) Notarized.
E) Cosigned.

Honoring a Note

The act of paying off a note payable or bond at its maturity, fulfilling the issuer's obligation.

Note Receivable

A note receivable is a financial asset representing a written promise to receive a specific amount of money, with interest, from another party by a certain date.

  • Assess the matured sum of notes receivable and recognize the income derived from interest.
verifed

Verified Answer

NR
Natalie RittenhouseJun 12, 2024
Final Answer :
B
Explanation :
Honoring a note receivable means that the maker has paid the note in full, indicating they have fulfilled their obligation to pay the debt.