
Advanced Accounting Chapter 8
Business
10th - 12th Grade
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The date on which the principal of a note is due to be repaid is the
date of a note
interest date of a note
maturity date of a note
principal date of a note
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Obtaining capital by borrowing money for a period of time is called
debt financing
issuing a note payable
establishing a line of credit
issuing a promissory note
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An amount paid for the use of money for a period of time is called
bank charges
interest
principal
security
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expenses paid in one fiscal period but not reported as expenses until a later fiscal period are
known as
accrued expenses
matching revenue with expenses
postponed expenses
prepaid expenses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The original amount of a note is called the
rate of the note
maturity value
principal
term of the note
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The interest accrued on borrowed funds is called
interest expense
interest receivable
interest revenue
prepaid interest
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A written and signed promise to pay a sum of money at a specified time is called a
secured note
loan document
principal
promissory note
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