Which of the Following Statements Is Not True

question 141

Multiple Choice

Which of the following statements is not true?

• A)Bonds and promissory notes are two ways a company can borrow the funds necessary to finance its activities.
• B)Both bonds payable and notes payable are initially recorded with a journal entry that debits cash and credits the relevant liability account.
• C)The journal entry that records interest owed on bonds and notes includes a debit to interest expense and a credit to interest payable.
• D)Bonds payable and notes payable are always non-current liability accounts.

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Definitions:

Sensation Seeking

Refers to a personality trait that involves the search for experiences and feelings that are varied, novel, complex, and intense.

Police Officer

A law enforcement official responsible for maintaining public order, enforcing laws, and preventing, detecting, and investigating crimes.

Race-Car Driver

An individual who competes in the sport of racing automobiles on tracks or off-road courses.

Sensation Seeking

The trait of searching for experiences and feelings that are varied, complex, novel, and intense.