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    Exam 10: Understanding a Firms Financial Statements
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    Ignatio Applied for a Loan for His Business That He
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Ignatio Applied for a Loan for His Business That He

Question 38

Question 38

Multiple Choice

Ignatio applied for a loan for his business that he will repay in nine months. The best way to describe this loan is as a(n)


A) account payable.
B) accrued expense.
C) short-term note.
D) long-term note.

Correct Answer:

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