Multiple Choice
Which of the following statements is FALSE?
A) A transaction is an exchange or event that has a direct and measurable financial effect.
B) Every transaction has at least 2 effects.
C) Current assets are economic resources to be used or turned into cash within one year.
D) Notes payable is the account debited when money is borrowed from a bank using a promissory note.
Correct Answer:
Verified
Correct Answer:
Verified
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