Which of the following liabilities can potentially be reported as either or both a current and a non-current liability?
A)Bank overdraft.
B)Unearned revenue.
C)180-day bank loan.
D)Income taxes payable.

Question

Quizplus · Accepted Answer

Unearned revenue can be reported as both a current and a non-current liability depending on when the goods or services are expected to be delivered. If the delivery is within a year, it's a current liability. If beyond a year, it's a non-current liability.

Which of the Following Liabilities Can Potentially Be Reported as Either