Which of the following would not be classified as a current liability?
A) Accrued taxes payable
B) Revenue received in advance
C) Mortgage
D) Notes payable

Name: Which of the following would not be classified as a current liability? A) Accrued taxes payable B) Revenue received in advance C) Mortgage D) Notes payable
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Question

Quizplus · Accepted Answer

Mortgage is not classified as a current liability if its due date is beyond one year. Current liabilities are obligations due within one year.

Which of the Following Would Not Be Classified as a Current