A short-term note payable: O Is a written promise to pay a specified amount on a definite future date within one year or the company's operating cycle whichever is longer O Is a contingent liability O Is an estimated liability Is not a liability until the due date O Cannot be used to extend the payment period for an account payable

A short-term note payable: O Is a written promise to pay a specified amount on a definite future date within one year or the company's operating cycle whichever is longer O Is a contingent liability O Is an estimated liability Is not a liability until the due date O Cannot be used to extend the payment period for an account payable

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 1MC: Which of the following is not considered a current liability? A. Accounts Payable B. Unearned...

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Current liabilities are due a.but not payable for more than one year b.and receivable within one year c.but not receivable for more than one year d.and payable within one year
43 _________________ is a written promise to pay a specified amount on a definite future date within one year or the company’s operating cycle, whichever is longer. a. Short-term note payable b. Short- term notes receivables c. Long-term note receivables d. Long-term notes payable
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