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An obligation with a maturity of 5 years of greater is considered a _____ payable....

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Accounting

An obligation with a maturity of 5 years of greater is considered a _____ payable.

a.note

b.liability

c.bond

d.accrued

2. 1. On the note/bond payable inception date, _____ is debited and _____ is credited.

a.liability, asset

b.note/bond payable, cash

c.cash, revenue

d.cash, note/bond payable

3. _____ expense refers to the amount charged for borrowing money.

a.Interest

b.Rent

c.Accrued

d. Unearned

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