Notes Payable Is Considered A(n)________ on the Balance Sheet

question 86

Multiple Choice

Notes payable is considered a(n) ________ on the balance sheet.

• A)cash out-flow
• B)current asset
• C)current liability
• D)long-term liability

---

Definitions:

Methanol

A simple alcohol with the chemical formula CH3OH, used as a solvent, antifreeze, or fuel.

HCl

Hydrochloric acid, a strong acidic compound of hydrogen chloride in water, commonly used in industrial and laboratory settings.

Distamycin

A small molecule that binds to minor grooves of DNA, notable for its role in scientific research related to DNA interactions.

Acid Hydrolysis

A chemical process in which a compound is broken down by reaction with water and an acid, resulting in the formation of one or more new substances.