Multiple Choice
If a company issues a non-interest-bearing note payable, then
A) no interest expense will be recognized over the life of the note.
B) no principal payments will be made over the life of the note.
C) no interest payments will be made over the life of the note.
D) the covenants should be rewritten to conform to GAAP.
Correct Answer:

Verified
Correct Answer:
Verified
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