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07. A document promising payment of a specific amount to a specific person is referred to as:

A. Promissory Note
B. Bill of Exchange
C. Check
D. Draft



Answer :

GinnyAnswer

Final answer:

A promissory note is a written promise to pay a specific amount to a specific person.


Explanation:

A promissory note is a document that promises payment of a specific amount to a specific person. It is essentially an IOU or a promise-to-pay, commonly used in business transactions to specify the terms of payment and delivery.


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