Property tax payable is classified as a non-current liability because it is related to property, which is a non-current asset.

Name: Property tax payable is classified as a non-current liability because it is related to property, which is a non-current asset.
Brand: Quizplus
Rating: 4.8 (31 reviews)

Question

Quizplus · Accepted Answer

Property tax payable is typically classified as a current liability because it is usually due within one year, regardless of the nature of the asset it is associated with.

Property Tax Payable Is Classified as a Non-Current Liability Because