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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