All of the Following Are Characteristics of Notes Receivable Except

question 68

Multiple Choice

All of the following are characteristics of notes receivable except, notes receivable:

• A)are generally for a longer period than a regular accounts receivable.
• B)are usually evidenced by a more formal agreement called a promissory note.
• C)generally require the maker to pay interest on the receivable.
• D)are used by most businesses for very large amounts and are therefore almost always shown separately on the financial statements.
• E)the maker is the person who promises to pay the note at maturity.

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Definitions:

Ethical Relativism

The theory that suggests morality is relative to the norms of one's culture, meaning that what is morally right for one society may be wrong for another.

Deontological

An ethical theory that suggests actions are morally right based on adherence to rules or duties, regardless of the consequences.

Safest Vehicle

A subjective term often used in consumer information to describe a vehicle that meets or exceeds safety standards and has a low rate of accidents or injuries associated with it.

Intuitionism

A philosophical theory asserting that moral truths are known by intuition, independent of empirical evidence or logical deduction.