Multiple Choice
It is December 31,2014.A Note Payable is due in five annual installments beginning on December 31,2015.On the balance sheet dated December 31,2014,the Note Payable is classified as ________.
A) current liability only
B) long-term liability only
C) current and long-term liability
D) owners' equity
Correct Answer:
Verified
Correct Answer:
Verified
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