Question: An asset acquired using a long-term note payable always will be recorded at the face amount of the note under which scenario? A. The note

An asset acquired using a long-term note payable always will be recorded at the face amount of the note under which scenario?

A. The note payable explicitly requires the payment of interest at a realistic interest rate.

B. The note is a non-interest bearing note.

C. The company expects to use the asset for its entire physical life.

D. Interest on the note is not payable until the note is due.

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