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Claudia Borrowed Money from Her Bank, Signing a Five-Year Note

Question 10

Multiple Choice

Claudia borrowed money from her bank, signing a five-year note payable. She then calculated the monthly payment needed to pay off the loan within three years. Which of the following statements is / are most true?


A) The required monthly payment is an example of "information," as the term is used in the definition of an accounting information system.
B) The five-year note payable would be considered a "technology" if it were prepared with computer software.
C) Both A and B are true.
D) Neither A nor B is true.

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