Which of the Following Statements Is Correct

question 82

Multiple Choice

Which of the following statements is correct?

• A) To be considered a negotiable instrument,a promissory note must specify an interest rate.
• B) The amount shown on a note is called the face value.
• C) A company that issued a 6-month note payable would report its face value on the balance sheet as a long-term liability.
• D) A note payable must be payable at a specific time in the future.

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Definitions:

Agricultural Production

The process and practice of cultivating crops and livestock, involving various activities such as planting, harvesting, and rearing animals for food or other uses.

Aristocratic Ownership

The holding of assets, properties, or businesses by individuals or families with noble lineage or high social status.

New Culture Industries

Businesses and sectors focused on the production and distribution of cultural goods and services, adapting to technological innovations and changing consumer tastes.

Media Design

The craft of creating visual and audio content for various media platforms, focusing on aesthetic, functional, and user experience considerations.