Ignatio applied for a loan for his business that he will repay in 9 months.The best way to describe this loan is as a(n):
A)account payable.
B)accrued expense.
C)short-term note.
D)long-tern debt.

Name: Ignatio applied for a loan for his business that he will repay in 9 months.The best way to describe this loan is as a(n): A)account payable. B)accrued expense. C)short-term note. D)long-tern debt.
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Question

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A loan that will be repaid within 12 months is considered a short-term note.

Ignatio Applied for a Loan for His Business That He