Final answer:
The person who signs a note receivable and promises to pay is known as the maker. This is similar to a firm that issues bonds, promising to pay bondholders interest and the principal amount.
Step-by-step explanation:
The person who signs a note receivable and promises to pay the principal and interest is the maker. In the context of bonds, this would be analogous to the firm that issues the bonds, as it is the entity that is committing to make interest payments and repay the principal on the maturity date. For instance, when a firm seeks to borrow money through the issuance of bonds, it splits the total amount needed into smaller denominations. Each bond represents a promise by the firm to pay interest to the bondholder who, in this case, is effectively the lender. If the firm fails to honor this promise, bondholders have legal recourse to enforce payment.