In addition, most states have laws that specifically require a VCPR for a veterinarian to be able to write a prescription. Second, each state's veterinary medical board regulates how prescriptions must be written â specifically, what information must be included on the prescription.
Short Term vs. Long Term. The determining factor of short- and long-term notes receivable is time. Short-term notes are notes due within 12 months or less. If the note is due in more than a year, it's a long-term note. Short-term notes receivable are considered a current asset. As such, they're included in the balance sheet under the current asset category. Long term notes are presented on the balance sheet along with other non-current assets.
DEFINITION of 'Vendor Note'. A type of debt instrument used in a particular type of short-term loan agreement in which the seller of goods or merchandise sells them to the buyer, but also provides financing for the buyer in the form of a vendor note.he loan is secured by the inventory being sold to the buyer as well as pledges of the buyer's business assets and similar forms of security used to help lessen the perceived risk of the buyer's default.