Question: When a note payable does not have a stated interest rate, the company will Multiple choice question. not recognize any interest expense. pay the market

When a note payable does not have a stated interest rate, the company will
Multiple choice question.
not recognize any interest expense.
pay the market rate of interest annually.
recognize a liability for less than the face value of the the note.
recognize a liability equal to the face value of the note.

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