Which of the Following Statements Is True

question 158

Multiple Choice

Which of the following statements is true?

• A)Accounts receivable are more liquid than cash.
• B)Notes receivable are always classified as current assets.
• C)Notes receivable usually have longer collection terms than accounts receivable.
• D)Accounts receivable are liabilities.

---

Definitions:

Interest Payable

The amount of interest expense that has been incurred but not yet paid by a company during a specific period.