Suppose a Customer Is Unable to Pay Its Account on Time,so

question 116

Multiple Choice

Suppose a customer is unable to pay its account on time,so the company accepts a six-month interest-bearing note receivable to replace the customer's account receivable.What effect will accepting the note receivable have on the company's financial statements at the time of acceptance?

• A)Total assets increase.
• B)Total assets decrease.
• C)No change in total assets.

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Definitions:

Interpersonal Conflicts

Disagreements or disputes between individuals resulting from differing views, goals, or values.

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint.

Traditionals

Refers to the beliefs, customs, practices, and behaviors that are passed down through generations.

Interpersonal Relations

The way in which individuals interact, communicate, and build relationships with each other.