Which Statement Is Correct

question 11

Multiple Choice

Which statement is correct?

• A)Trade payables are supported by a written promise to pay.
• B)Trade payables with no stated interest rate do not need to be discounted.
• C)Notes payable are legally enforceable and can only be interest bearing.
• D)Notes payables are recognized at the face value or transaction price.

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Definitions:

Recycled Paper

Paper that has been reprocessed and reused to reduce waste and conserve resources.

Larger Community

A broad group of individuals that extends beyond a specific area or population, often encompassing diverse members with shared interests or concerns.

Ethical Standards

Principles that guide behavior by outlining what is considered right, wrong, good, or bad in a societal or organizational context.

Socially Responsible Operations

Practices and strategies that businesses employ to ensure their operations are ethical, sustainable, and beneficial to society as a whole.