Which Statement Is Correct

question 67

Multiple Choice

Which statement is correct?

• A)Trade payables are supported by a written promise to pay.
• B)Trade payables with no discount terms are expected to be paid in full.
• C)Notes payable are legally enforceable and can only be interest bearing.
• D)Notes payables are recognized at the face value or transaction price.

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Definitions:

Food Stamps

A government assistance program that provides funds to low-income households for the purchase of food.

Medicaid Benefits

Health insurance program in the United States that provides medical assistance to eligible low-income adults, children, pregnant women, elderly adults, and people with disabilities.

Official Poverty Rate

A statistical measure determined by the government that defines the percentage of the population whose income falls below the threshold considered necessary to meet basic living needs.

Money Income

The total amount of monetary earnings received by an individual or household, including wages, salaries, and other sources of income.