Short-Term Notes Payable Typically Arise Because

question 80

Multiple Choice

Short-term notes payable typically arise because

• A)the firm temporarily requires cash for operations.
• B)cash is received from customers prior to the rendering of services or delivery of products.
• C)the board of directors have declared a dividend that will be paid at a later date.
• D)cash is received as a security deposit.

---

Definitions:

Output Per Capita

Output per capita is a measure of a country's economic output that accounts for its number of people, essentially giving an average production per person.

GDP

Gross Domestic Product, the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.

GNP

GNP, or Gross National Product, represents the total dollar value of all goods and services produced over a specific time period by a nation's residents, regardless of the production location.

Population

The total number of people inhabiting a particular area, region, or country.