Which one of the following is a current liability?
A) Note payable to a supplier in 13 months
B) Amount due from a customer in two weeks
C) Account payable to a supplier that is due next week
D) Loan payable to the bank in 18 months
E) Amount due from a customer that is past due

Question

Quizplus · Accepted Answer

A current liability is a debt that is due within one year or one operating cycle, whichever is longer. Option C, an account payable to a supplier that is due next week, fits this definition, making it the only current liability among the given options.

Which One of the Following Is a Current Liability