Match each of the following terms pertaining to liabilities to their definitions.
-Amounts owed that are represented by a formal contractual agreement.These amounts usually require the payment of interest.
A)Current liability
B)Accounts payable
C)Notes payable
D)Discount on notes payable
E)Current maturities of long-term liabilities
F)Accrued liabilities
G)Contingent liability
H)Estimated liability

Question

Quizplus · Accepted Answer

Notes payable are liabilities that are created through formal legal documents that typically stipulate interest payments.

Match Each of the Following Terms Pertaining to Liabilities to Their