A Company's Formal Promise to Pay (In the Form of a Promissory

question 94

Multiple Choice

A company's formal promise to pay (in the form of a promissory note) a future amount is a(n) :

• A) Account receivable.
• B) Unearned revenue.
• C) Note payable.
• D) Prepaid expense.
• E) Credit account.

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Definitions:

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