Notes Payable

question 66

Multiple Choice

Notes payable:

• A)Is a current liability account.
• B)Usually has a debit balance.
• C)Is a noncurrent liability account.
• D)Cannot determine its classification without additional information.

---

Definitions:

Disposable Income

The capital available to households for deploying into savings and spending post-tax.

Consumption

The act of using goods and services by households that leads to a decrease in their stock.

Disposable Income

Budget available for households to direct towards saving and spending post-income tax assessment.

Disposable Income

Income available to an individual or household after accounting for taxes and other mandatory charges, available for spending or saving.