Examlex
What is defined as the non-cancellable period for which the lessee has a right to use an underlying asset?
Accounts Payable
A liability account that tracks money owed by a business to suppliers or creditors for goods and services purchased on credit.
Notes Payable
A financial liability on a company's balance sheet representing promissory notes that require future payments of principal and possibly interest.
Maturity Value
The amount due to the owner of a financial instrument at its maturity date, including principal and interest.
Default
Failure of maker to pay the maturity value of a note when due.
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