A Two-Year Note Payable Would Be Classified as A

question 79

Multiple Choice

A two-year note payable would be classified as a:

• A) current liability.
• B) current asset.
• C) long-term liability.
• D) long-term asset.

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Definitions:

Open Transaction

Any financial transaction that has been initiated but not yet completed or settled.

Customer Based

Customer based refers to a business strategy or perspective centered on understanding and addressing the needs, preferences, and behaviors of customers.

Confidential

Information meant to be kept secret or private from those not authorized to see it.

QuickBooks Enterprise

A comprehensive business management software designed for small to medium-sized businesses, offering advanced accounting features.