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    Financial Accounting Study Set 2
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    Exam 9: Current Liabilities, Contingencies, and the True Value of Money
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    What Is the Correct Classification of the Account: Discount on Notes
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What Is the Correct Classification of the Account: Discount on Notes

Question 64

Question 64

Multiple Choice

What is the correct classification of the account: Discount on Notes Payable?


A) an asset
B) an expense
C) a revenue
D) a contra liability

Correct Answer:

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