Relative to Notes Payable

Multiple Choice

Relative to notes payable,

A) the length of the note will affect the manner in which the note is accounted for.
B) interest expense is only accounted for on the date the note is paid.
C) the maturity value is the total amount listed on the face of the note.
D) interest rates are typically stated in terms of the length of the note.
E) a 60-day note payable signed on June 5 would mature on August 4.