Notes Receivable ________

question 188

Multiple Choice

Notes receivable ________.

• A) represent an oral promise to pay a fixed amount of principal plus interest on the maturity date
• B) are included in a miscellaneous category called other receivables
• C) due within 12 months or within the normal operating cycle if the cycle is longer than a year are considered long-term assets
• D) are supported by a promissory note

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Human Resource Professional Association

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