A Business Borrows Cash by Signing a Note Payable

question 95

Multiple Choice

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

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

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Definitions:

Ideology

An arrangement of beliefs and values, especially one that establishes the groundwork for political or economic theories and strategies.

Cultural System

A complex set of values, beliefs, institutions, and artifacts that define a society and influence behavior and social norms.

Functional Areas

Distinct sectors within an organization or industry that specialize in specific aspects of the business operation, such as marketing, finance, human resources, and research and development.

Ecology

The branch of biology that deals with the relations of organisms to one another and to their physical surroundings.