A shortminusterm notes payable ​ ________.

Question

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Part 1
A.
usually does not involve interest and is to be paid within one month or less
B.
usually involves interest and is to be paid within one year or less.
C.
usually does not involve interest and is to be paid within one year or less
D.
usually involves interest and is to be paid within one month or less.

Answer 1

The correct answer is:

B. usually involves interest and is to be paid within one year or less.

Short-term notes payable typically have a maturity of less than one year and often involve interest.