How important are notes payable actually on the FAR exam? I know bonds and leases are heavily tested and usually come with a lot of questions, but what about notes payable?
Honestly, they’ve been consuming a lot of my study time, especially the present value concepts — like how to apply PV when there are periodic payments vs lump-sum payments, when the market rate is lower or higher than the note rate, and all the other details.
I’m also noticing there aren’t that many Becker questions specifically focused on notes payable compared to bonds and leases. Does that usually mean the detailed calculations aren’t as important, and that understanding the main concepts is enough? Or should I still spend a lot of time mastering all the details?