Interest Payable Is a Contra Liability Account and Is Deducted

question 59

True/False

Interest payable is a contra liability account and is deducted from the note payable on the balance sheet.

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Trust

The belief in the reliability, truth, ability, or strength of someone or something, often seen as the foundation of successful relationships.

Team Effectiveness

The extent to which a team achieves its goals, meets its members' needs, and sustains performance over time.

Developing Virtual Teams

The process of building teams that operate primarily or exclusively through electronic communications.

Managers

Individuals responsible for planning, organizing, leading, and controlling resources to achieve organizational goals effectively.