A Business Repays the Amount Borrowed on a Note Payable

question 119

Multiple Choice

A business repays the amount borrowed on a note payable.Which account is credited?

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

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Definitions:

Self-actualization

Self-actualization is the fulfillment of one's talents and potentialities, often considered as a drive or need present in everyone.

Carl Rogers

An influential American psychologist known for his role in developing the humanistic approach to psychology.

Dependent Relationship

A type of relationship where one variable is influenced or determined by another variable.

Potential

An individual's or object's capacity to develop, achieve, or succeed in the future, often unrealized but possible.