An installment note is a liability of the issuing company that requires a series of payments to the lender.

Question

Quizplus · Accepted Answer

An installment note is a type of loan in which a borrower receives a lump sum of money and then repays the lender with a series of fixed payments over a set period of time. Therefore, an installment note is a liability of the issuing company that requires a series of payments to the lender.

An Installment Note Is a Liability of the Issuing Company