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    Fundamental Accounting Principles Study Set 6
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    Exam 11: Current Liabilities and Payroll Accounting
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    Short-Term Notes Payable
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Short-Term Notes Payable

Question 56

Question 56

Multiple Choice

Short-term notes payable:


A) Cannot replace an account payable.
B) Can be issued in return for money borrowed from a bank.
C) Are not negotiable.
D) Are a conditional promise to pay.
E) Rarely involve interest charges.

Correct Answer:

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