A Note Payable Can Be Used to Extend the Credit

question 41

True/False

A note payable can be used to extend the credit period for an account payable.

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Definitions:

AC

Alternating Current, a type of electrical current where the flow of electric charge periodically reverses direction, commonly used in power supplies.

DC

Direct Current, an electrical current that flows in one direction only, typical in batteries and DC power supplies.

Shaded Pole

A type of single-phase induction motor design that uses a shaded pole for starting torque, commonly found in low-power applications.

Split-phase

A type of electrical power supply system that divides the electric power into two or more alternating current (AC) voltages.