When referring to a note receivable or promissory note Group of answer choices the note may be used to settle an account receivable the note is not considered a formal credit instrument the maker is the party to whom the money is due the note cannot be factored to another party

The answer is

The note may be used to settle an accounts receivable

Explanation:

A promissory note (sometimes called notes payable) is a financial instrument that contains a written promise by one party (the note's issuer) to pay another party (the note's payee) a precise sum of cash, either at a hard and fast or determinable future time or on demand of the payee, under specific terms.

Note receivable may be a written promise to receive money at a future date.

Therefore, promissory note and note receivable can offset each other.

In the light of the above, option A is that the only correct answer