Which of the following is not a current liability?
A) Accounts payable.
B) A note payable due in two years.
C) Accrued interest payable.
D) Sales tax payable.

Question

Quizplus · Accepted Answer

A note payable due in two years is a long-term liability, not a current liability. Current liabilities are liabilities that are due within one year or the normal operating cycle of the business, whichever is longer. Accounts payable, accrued interest payable, and sales tax payable are all current liabilities.

Which of the Following Is Not a Current Liability