The following makes notes receivable :
- Notes receivable are formal written contracts.
- Notes receivable have a stronger legal claim.
- Notes receivable are interest bearing.
<h3>What are Notes Receivable?</h3>
Notes receivable are a balance sheet item that records the value of promissory notes that a business is owed and should receive payment for. A written promissory note gives the holder, or bearer, the right to receive the amount outlined in the legal agreement. Promissory notes are a written promise to pay cash to another party on or before a specified future date.
If the note receivable is due within a year, then it is treated as a current asset on the balance sheet. If it is not due until a date that is more than one year in the future, then it is treated as a non-current asset on the balance sheet.
Often, a business will allow customers to convert their overdue accounts (the business’ accounts receivable) into notes receivable. By doing so, the debtor typically benefits by having more time to pay.
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Answer:
if they do not pay their taxes government ceil their properties..
Answer:
D. secured loan
Explanation:
"A secured loan is a loan backed by collateral"
[A. unsecured loan is a loan that doesn't require any type of collateral.]
[B. credit card ...no]
[C. property loan is a secured loan that is sanctioned keeping an asset as mortgage with the lender.]
[D. secured loan is a loan that is backed by collateral]
Answer: Social Welfare
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Answer:
It eliminated the need for fixed costs.
Explanation:
