A Business Borrows Cash by Signing a Note Payable

question 28

Multiple Choice

A business borrows cash by signing a note payable.Which account is debited?

• A) Notes payable
• B) Accounts payable
• C) Accounts receivable
• D) Cash

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Definitions:

Immediate Action

A prompt response or measure taken to address a situation or solve a problem without delay.

Appreciative Inquiry

A method of organizational change focused on identifying what works well, analyzing why it works, and then doing more of it.

Marketing Technique

Strategies or methods applied to promote and sell products or services to target consumers.

Groupthink

A psychological phenomenon that occurs within a group of people when the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.