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    Fundamental Financial Accounting Concepts Study Set 1
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    Exam 9: Accounting for Current Liabilities and Payroll
  5. Question
    What Type of Account Is Discount on Notes Payable
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What Type of Account Is Discount on Notes Payable

Question 62

Question 62

Multiple Choice

What type of account is Discount on Notes Payable?


A) Contra liability
B) Liability
C) Contra asset
D) Expense

Correct Answer:

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