Short-term notes payable are:
A)generally due within three months, with a maximum time period of six months.
B)shown as a reduction to notes receivable on the balance sheet, with an appropriate footnote disclosure.
C)shown on the balance sheet after bonds payable.
D)shown on the balance sheet with current liabilities.

Question

Quizplus · Accepted Answer

Short-term notes payable are generally due within a year or less, and therefore classified as current liabilities on the balance sheet.

Short-Term Notes Payable Are