Abel Now Has the Buying Power to Purchase the Computer

question 91

Multiple Choice

Abel now has the buying power to purchase the computer that he wanted to buy six months ago. Abel's want has most likely become a ________.

• A) need
• B) value
• C) demand
• D) market offering
• E) desire

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Definitions:

Notes Payable

Short-term or long-term liabilities representing amounts owed by a business, documented by a formal promissory note.

Accounts Payable

Liabilities owed by a business to its suppliers or creditors for goods and services purchased on credit.

Note Payable

A written promise to pay a certain amount of money at a future date, often including interest.

Borrower

An individual or entity that takes out a loan from another entity or individual under the agreement to repay the amount borrowed, typically with interest.