Discount on Notes Payable Is a Contra Account to Notes

question 32

True/False

Discount on Notes Payable is a contra account to Notes Payable on the balance sheet.

---

Definitions:

Unconditional Positive Regard

An attitude of total acceptance and support towards another person, regardless of what they say or do.

Client-centered Therapy

A form of psychotherapy developed by Carl Rogers that emphasizes an empathetic, accepting, and genuine environment for clients to facilitate personal growth.

Nonjudgmental Setting

A supportive environment where individuals feel safe to express themselves without fear of criticism or judgment.

Rational-emotive Behavior Therapy

A form of psychotherapy that helps individuals identify self-defeating thoughts and feelings, challenge the rationality of those feelings, and replace them with healthier, more productive beliefs.