Notes Payable Is a Typical Example of a Liability Account

question 17

True/False

Notes Payable is a typical example of a liability account.

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Definitions:

Cessation

The process of ending or being brought to an end.

Breathing

The process of inhaling oxygen and exhaling carbon dioxide from the atmosphere.

Epiglottis

A flap of cartilage located at the root of the tongue, which is depressed during swallowing to cover the opening of the windpipe.

Trachea

The windpipe, a large airway that leads air in and out of the lungs.