An airline's long-term leases of its jets are examples of current liabilities.

Name: An airline's long-term leases of its jets are examples of current liabilities.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

Long-term leases of jets would usually be classified as long-term liabilities, not current liabilities. Current liabilities are typically short-term obligations that are expected to be settled within one year, such as accounts payable, salaries payable, and short-term loans.

An Airline's Long-Term Leases of Its Jets Are Examples of Current