Question: Which one of the following statements regarding long-term financial liabilities is true? A. A note payable must be issued at the start of an entity's fiscal year. B. When interest on a note payable is calculated on a daily basis, this includes the day the note is repaid but not the day it was borrowed. C. Interest on notes payable is usually calculated on a daily basis. D. When interest on a note payable is calculated on a daily basis, this includes both the day the note is repaid and the day it was borrowed.