Which of the following would be listed as a current liability?
A)Cash
B)Notes Payable (due in two years)
C)Supplies
D)Accounts Payable

Question

Quizplus · Accepted Answer

Current liabilities are debts and other obligations that will be paid or fulfilled within 12 months of the balance sheet date.Accounts Payable is the only current liability.Cash and Supplies are assets.Since the Notes Payable are due in two years,they are a noncurrent liability.

Which of the Following Would Be Listed as a Current