The difference between the amount received from issuing a note payable and the amount repaid is referred to as:
A) Interest.
B) Principle.
C) Face Value.
D) Cash.
E) Accounts Payable.

Question

Quizplus · Accepted Answer

The difference between the amount received from issuing a note payable and the amount repaid is referred to as interest. This represents the cost of borrowing money and is typically a percentage of the principal amount borrowed.

The Difference Between the Amount Received from Issuing a Note