When a Note Is Written to Settle an Open Account

question 19

True/False

When a note is written to settle an open account, no entry is necessary.

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Definitions:

Rewarding

Providing satisfaction, pleasure, or a positive outcome that reinforces behavior or effort.

Expectations

Beliefs or hopes concerning what is possible or likely to happen in the future.

Equity

In a social context, it refers to fairness and justice in the distribution of resources and opportunities among all individuals.

Responsibility

The state or fact of having a duty to deal with something or of having control over someone.