A Business Repays the Amount Borrowed on a Note with Cash.Which

question 217

Multiple Choice

A business repays the amount borrowed on a note with cash.Which of the following accounts is credited?

• A) Accounts Payable
• B) Cash
• C) Notes Payable
• D) Notes Receivable

Understand the components and objectives of internal control systems.

Identify and apply bank statement adjustments and company book adjustments.

Recognize elements of the control environment, risk assessment, and control procedures.

Match internal control elements to their descriptions or purposes.