Debts that are due in one year or less are classified on the Balance Sheet as:
A)Current liabilities.
B)Bonds payable.
C)Callable bonds.
D)Immediate expenses.

Name: Debts that are due in one year or less are classified on the Balance Sheet as: A)Current liabilities. B)Bonds payable. C)Callable bonds. D)Immediate expenses.
Brand: Quizplus
Rating: 4.9 (37 reviews)

Question

Quizplus · Accepted Answer

Current liabilities are debts that are due within one year or less. Therefore, this is the appropriate classification for debts due in one year or less on the Balance Sheet.

Debts That Are Due in One Year or Less Are