Accounting MCQ Accounting Chapter 14 If a long-term note payable has a stated interest rate, that rate should be considered to be the effective rate.

If a long-term note payable has a stated interest rate, that rate should be considered to be the effective rate.

Naim 03:58 Accounting Chapter 14

If a long-term note payable has a stated interest rate, that rate should be considered to be the effective rate.

Answer: False

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