When a Note Is Payable in Installments,the Installments Must Be

question 35

True/False

When a note is payable in installments,the installments must be separately recorded in two different accounts-Short-term notes payable and Long-term notes payable-depending on the due dates of the installments.

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Definitions:

Regular Cash Dividend

A fixed amount paid to shareholders out of a company's profits on a regular schedule.

Liquidating Dividend

A type of dividend paid by a company from its capital rather than its earnings, often during dissolution or winding down.

Date of Record

The cut-off date set by a company in order to determine which shareholders are eligible to receive a dividend or distribution.