Any Installment Note Payment That Is Less Than the Amount

question 11

True/False

Any installment note payment that is less than the amount due will put the holder on notice that some of the principal is overdue.

---

Definitions:

General Ledger

A comprehensive record of a company's financial transactions over the life of the organization.

Paid Dividend

Refers to the portion of a company's earnings that has been distributed to shareholders as dividends.

Account Payable

Liabilities of a business that are owed to creditors for goods or services purchased on credit.