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Financial Statements and Accounting Transactions
?
Which of the following is a formal written promise to pay a definite sum of money on demand or at a fixed or determinable future date?
Account payable
Account receivable
Note payable
Prepaid insurance policy
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (C)
Note payable
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