The Premium on Notes Payable Account Is A(n)

question 90

Multiple Choice

The premium on Notes Payable account is a(n) :

• A)adjunct liability account
• B)contra liability account
• C)contributed liability account
• D)equity account

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Definitions:

Disclosure

The provision of information needed for the parties to make an informed decision.

Voluntariness

The client’s right to come to a decision without force, coercion, or manipulation from others.

Consent

Giving permission for something to happen or agreeing to do something, often used in medical contexts to refer to patients agreeing to receive treatment.

Practice Standards

Agreed-upon criteria within a profession that guide and determine the appropriate levels of practice and professional responsibility.