With Regard to Notes Receivable,which of the Following Statements Is

question 105

Multiple Choice

With regard to notes receivable,which of the following statements is correct?

• A) Notes receivable are less formal contracts than accounts receivable.
• B) Notes receivable are also called promissory notes because a written promise to pay is not required.
• C) All notes receivable require the borrower to pledge collateral.
• D) The borrower signs a written promise to pay the lender a definite sum at the maturity date, with interest.

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