Which of the following current liability accounts would be considered financial debt?

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Financial debts are debts that arise from borrowing money or obtaining credit from external sources. Notes payable is a liability account for the amount of money borrowed by a company from a financial institution, making it a financial debt. Taxes payable, deferred income, and accounts payable are not considered financial debts as they are not obtained through borrowing or credit. Financial debt refers to any borrowed funds that a company must pay back within a year. Notes payable is a liability account that indicates the amount of money a company owes to lenders or creditors for short-term loans. Taxes payable, deferred income, and accounts payable are all current liabilities, but they do not represent financial debt because they do not involve borrowing money.

Which of the Following Current Liability Accounts Would Be Considered