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Indicate Whether Each of the Following Statements Is True or False

Question 69

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Indicate whether each of the following statements is true or false.

Premises:

Responses:

Long-term installment notes are repaid all at once two to five years after the issue date.

False

Interest expense on long-term installment notes increases each year.

True

Short-term notes payable normally mature within a year.

Cash for machinery or buildings is often obtained by issuing long-term debt.

sMost long-term loans are obtained from the corporation's stockholders.transaction.

Premises:

Long-term installment notes are repaid all at once two to five years after the issue date.

Interest expense on long-term installment notes increases each year.

Short-term notes payable normally mature within a year.

Cash for machinery or buildings is often obtained by issuing long-term debt.

sMost long-term loans are obtained from the corporation's stockholders.transaction.

Responses:

False

True

Correct Answer:

Premises:

Responses:

Long-term installment notes are repaid all at once two to five years after the issue date.

Interest expense on long-term installment notes increases each year.

Short-term notes payable normally mature within a year.

Cash for machinery or buildings is often obtained by issuing long-term debt.

sMost long-term loans are obtained from the corporation's stockholders.transaction.

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