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A company has a note payable that is due on December 31, 2013. In its December 31, 2012, balance sheet, this note payable should be classified as a(n)____________________.
Cost of Goods Sold
Direct costs attributable to the production of goods sold by a company, including materials and labor costs.
Sales
The transactions involved in selling goods or services to customers, often tracked to measure business performance.
Goodwill
An intangible asset representing the value of a company's brand, customer relationships, and other non-physical assets acquired during a purchase.
Common Stock
Represents ownership shares in a corporation, giving holders voting rights and a share in the company's profits through dividends.
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