A two- year loan payable would be classified as a:
A)current liability.
B)non- current asset.
C)non- current liability.
D)current asset.

Name: A two- year loan payable would be classified as a: A)current liability. B)non- current asset. C)non- current liability. D)current asset.
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Question

Quizplus · Accepted Answer

A two-year loan payable is classified as a non-current liability because it is a financial obligation that is due beyond one year from the balance sheet date.

A Two- Year Loan Payable Would Be Classified as A