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If a Long-Term Note Is Issued with Zero Interest or for Non-Monetary

Question 40

Multiple Choice

If a long-term note is issued with zero interest or for non-monetary consideration,


A) the debtor must first try to value the non-monetary asset(s) involved in the transaction.
B) a reasonable interest rate must be imputed.
C) the debtor always tries to create a gain with such a transaction.
D) the note is a non-monetary liability.

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