The Account, Discount on Notes Payable, Is a

question 88

Multiple Choice

The account, Discount on Notes Payable, is a

• A) contra-asset.
• B) deferred charge.
• C) contra-liability.
• D) liability.

---

Definitions:

Optimal Level

The most favorable or desirable degree of efficiency, concentration, or condition for a particular process or function.

Stimulation

The action of arousing interest, excitement, or activity in someone or something, or the condition of being stimulated.

Expectancy

A belief or anticipation regarding the likelihood that a specific outcome will occur as a result of certain actions or behaviors.

Homeostasis

The process by which a living organism or cell maintains a stable internal environment despite changes in external conditions.