Obligations owed by a company to banks,for instance,are called:
A)notes receivable.
B)Notes Payable.
C)Accounts Receivable.
D)Accounts Payable.

Question

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Obligations owed by a company to banks are called Notes Payable. Notes receivable refers to money owed to a company by a borrower. Accounts receivable refers to the money owed to a company by its customers, and accounts payable refers to the money a company owes to its suppliers and vendors.

Obligations Owed by a Company to Banks,for Instance,are Called