When a Company Accrues Interest Payable on a Long-Term Note

question 128

True/False

When a company accrues interest payable on a long-term note at year-end,the interest payable must be shown as a long-term liability on the balance sheet,along with the long-term note payable balance.

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Definitions:

Anger

A strong feeling of annoyance, displeasure, or hostility.

Optimism

The general tendency to anticipate favorable outcomes or possess a hopeful outlook on life.

Happiness

A state of well-being and contentment characterized by positive or pleasant emotions ranging from contentment to intense joy.

Emotional Intelligence

The skill to recognize, govern, and articulate personal emotions, in addition to conducting oneself sensibly and with empathy in relationships with others.