How Does the Going Concern Assumption Affect Accounting for Notes

question 108

Multiple Choice

How does the going concern assumption affect accounting for notes payable?

• A)It dictates that interest expense be accrued at the end of the accounting period.
• B)It dictates that notes payable be reported at their face value.
• C)It dictates that notes payable be reported at their net realizable value.
• D)It dictates that interest expense be paid when the note matures.

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