Multiple Choice
Which of the following statements,regarding notes receivable,is incorrect?
A) Notes receivable usually have longer terms than accounts receivable.
B) A notes receivable is a written promise that a customer will pay a fixed amount of principal plus interest by a certain date in the future.
C) All notes receivable are considered long-term assets.
D) Notes receivable are sometimes called promissory notes.
Correct Answer:
Verified
Correct Answer:
Verified
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