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A note payable can either be classified as a long-term liability or a short-term liability, ...

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A note payable can either be classified as a long-term liability or a short-term liability, ...

A note payable can either be classified as a long-term liability or a short-term liability, depending on the discretion of the accountant.
A) True
B) False

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.

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