Question 1 (1 point) Saved A receivable is recognized when the sales effort is substantially complete. regardless of collection risk. only when payment has been received. when a service is performed. Question 5 (1 point) Saved Asset retirement costs are added to the cost of a depreciable asset. treated as a separate asset. deducted from the cost of a depreciation asset. have no effect on a depreciable asset. Question 11 (1 point) Saved Which of the following statements is false? Notes payable usually require the borrower to pay interest. Notes payable are sometimes used instead of accounts payable. Most notes and bank loans are non-interest bearing. Notes payable reflect a promise to repay a specified amount of money either at a fixed future date or on demand