Bonds payable usually are classified on the statement of financial position as which of the following?
A) Current assets.
B) Investments and funds.
C) Long-term liabilities.
D) Current liabilities.

Question

Quizplus · Accepted Answer

Bonds payable are typically long-term liabilities as they have a maturity date beyond one year from the date of the statement of financial position.

Bonds Payable Usually Are Classified on the Statement of Financial