A business loan for 9 months would be best described as a(n)
A) account payable.
B) accrued expense.
C) short-term note.
D) long-tern debt.

Question

Quizplus · Accepted Answer

A business loan for 9 months is considered a short-term debt as it has a relatively short repayment period. It is not an account payable as it is not money owed to a supplier or vendor. It is also not an accrued expense as it is a loan that has already been received and needs to be paid back, rather than an expense that has been incurred but not yet paid. It is not a long-term debt as the repayment period is less than a year.

A Business Loan for 9 Months Would Be Best Described