Current liabilities are a. due, but not receivable for more than one year b. due

Question

Current liabilities are
a. due, but not receivable for more than one year
b. due, but not payable for more than one year
c. due and receivable within one year
d. due and payable within one year


21. Notes may be issued
a. when assets are purchased
b. to creditor's to temporarily satisfy an account payable created earlier
c. when borrowing money
d. all of the above


22. The interest deducted from the maturity value of a note is called
a. proceeds
b. discount
c. face value
d. maturity value


23. The maturity value of an interest-bearing note payable is the
a. face value plus the interest
b. face value minus the interest
c. interest
d. face value

Explanation / Answer

Current liabilities are d. due and payable within one year 21. Notes may be issued c. when borrowing money 22. The interest deducted from the maturity value of a note is called b. discount 23. The maturity value of an interest-bearing note payable is the a. face value plus the interest

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.