Which of the Following Statements Is Not Correct

question 2

Multiple Choice

Which of the following statements is not correct?

• A) The entry to record the issuance of a promissory note includes a credit to Interest Payable for the amount of interest that will accrue on the note until it is paid at maturity.
• B) The Notes Payable account is always debited or credited for the face value of a note.
• C) The entry to record the issuance of a promissory note includes a credit to the Notes Payable account.
• D) The entry to credit the payment of a note payable includes a debit to the Notes Payable Account.

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Definitions:

Pathologist

A medical expert who examines tissues, cells, and body fluids to diagnose disease and assist in determining the cause of death in autopsies.

Internist

A doctor who specializes in diagnosing and treating problems related to the internal organs.

Family Practitioner

A physician who does not specialize in a branch of medicine but treats all types and ages of patients; also called a general practitioner.

Endocrinologist

A medical specialist who diagnoses and treats disorders of the endocrine system, such as diabetes, thyroid diseases, and hormonal imbalances.