7.) A one year note receivable from a parent corporation to one of its subsidiaries would be classified how on the balance sheet:

A. Trade accounts receivable B. Non-trade note receivable C. Trade notes receivable D. None of the above

8.) A legally restricted compensating balance to be used to satisfy a long-term Note Payable is reported:

A. In cash and cash equivalents B. In accounts payable C. As a long-term asset called compensating balance D. As a short-term asset called compensating balance