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

Question 1

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.Based on the definition of an accounting information system provided in the text, the five-year note payable could be considered: (i) an input, (ii) an output, (iii) a document.


A) I and II only
B) I and III only
C) II and III only
D) I, II and III

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