If a Note Receivable Is Outstanding at the End of an Accounting

question 203

True/False

If a note receivable is outstanding at the end of an accounting period,the interest earned up to year-end is recorded as interest revenue when the cash is received.

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Definitions:

Cyber-fraud

The act of committing fraud using the internet or digital communications technology to deceive and illicitly gain from others.

Cyber-spoofing

The act of disguising one's identity online, typically by falsifying email addresses or manipulating caller ID information, often to deceive or defraud.

Criminal Simulation

In criminal law, the altering or falsifying of art objects, antiques, photos, films, recordings, manuscripts, and/or antiquities with the intent to defraud.

Forgery

The act of fraudulently making or altering a document with the intent to deceive or harm others.