The total that must be paid when a note becomes due is known as the note value. maturity value. face value. O principal.
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- Principal plus interest equals ______ of a note. (a) discount (b) net proceeds (c) interest rate (d) maturity valueWhat is a key difference between a short-term note payable and a current portion of a noncurrent note payable?What is the principal amount of a note receivable plus the interest due called? promissory value maturity value expected value face value
- Short-term non-interest-bearing notes receivable are usually recorded at their a. present value b. net realizable value c. principal value d. maturity valueExplain the initial measurement of,a. short-term notes receivableb. interest bearing long-term notesc. noninterest bearing note receivabled. interest bearing below market rate long-term notesAt the maturity of a note payable, a borrower will pay ________. A. the interest amount only B. the principal plus interest C. the principal amount only D. the principal minus interest
- Notes Receivable with an Effective and Nominal Rate should report interest expense as? Effective Rate x PV of Principal Effective Rate x Principal Nominal Rate x PV of Principal Nominal Rate x PrincipalThe concept that supports the discounting of notes to their present value is: time value of money matching form over substance amortizationWhich of the following is true? Short-term notes payable should be discounted at its present value, more so, if it constitutes a financing transaction and the imputed interest can be measured without undue cost or effort. Transaction costs of issuing financial liabilities are expensed outright. The present value of a serial note's principal is computed by using the PV of 1 as the present value factor. Notes payable are obligations supported by creditor's promissory notes.
