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All of the following are true statements except 1, both a note receivable and an account receivable are secured by a formal written promise to
All of the following are true statements except
1, both a note receivable and an account receivable are secured by a formal written promise to pay.
2, both a note receivable and an account receivable can be sold to another party.
3, both a note receivable and an account receivable are valued at carrying value.
4, both a note receivable and an account receivable are credit instruments.
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