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Which of the following statements about installment notes is NOT true? A) The earlier payments will cover more interest expense than the later payments. B)
Which of the following statements about installment notes isNOTtrue?
A) The earlier payments will cover more interest expense than the later payments.
B) With each subsequent payment, a larger portion of the payment covers the principal of the note.
C) All payments are the same over the life of the note.
D) All of the above are true.
E) Depending on maturity dates, a portion of an installment note maybe classified as current and the rest as a long-term liability.
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