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    Business
  3. Study Set
    Financial Accounting
  4. Exam
    Exam 12: Non-Current Liabilities, Debentures Payable and Classification of Liabilities on the Balance Sheet
  5. Question
    When a Company Accrues Interest Payable on a Long-Term Note
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When a Company Accrues Interest Payable on a Long-Term Note

Question 48

Question 48

True/False

When a company accrues interest payable on a long-term note at year-end,the interest payable must be shown as a non-current liability on the balance sheet,along with the long-term note payable balance.

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