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  3. Study Set
    Fundamental Financial Accounting Concepts Study Set 2
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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 1

Question 1

Multiple Choice

What type of account is Discount on Notes Payable?


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

Correct Answer:

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