Payroll liabilities are reported on the statement of financial position as current liabilities.

Name: Payroll liabilities are reported on the statement of financial position as current liabilities.
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Payroll liabilities are considered current liabilities because they are expected to be paid within one year or the company's operating cycle, whichever is longer. These liabilities include items such as employee salaries, wages, and payroll taxes that have been earned but not yet paid.

Payroll Liabilities Are Reported on the Statement of Financial Position