A Note Receivable Discounted with Recourse Is

question 117

Multiple Choice

A note receivable discounted with recourse is

• A) A contingent liability
• B) An outright sale of a note receivable to a bank
• C) Sold to a bank and the bank assumes liability
• D) A contingent liability and an outright sale of a note receivable to the bank
• E) An outright sale of a note receivable to a bank and the bank assumes liability

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