Which one of the following would most likely be reported as a current liability?
A)Frequent flyer program miles accumulated by airline travelers
B)Self-insurance risks on anticipated losses
C)Customers merchandise returns exchanged for different merchandise
D)The CEO's stock option package for the current year

Question

Quizplus · Accepted Answer

Frequent flyer program miles accumulated by airline travelers are considered a current liability because they represent an obligation the airline must fulfill, typically within a year, as customers redeem their miles for flights or other rewards.

Which One of the Following Would Most Likely Be Reported