Which of the following accounts would be classified as a current liability on a classified balance sheet?

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Current liabilities are obligations that are expected to be settled within one year or within the company's operating cycle, whichever is longer. Interest payable is a current liability because it represents interest that has been earned but not yet paid by the company within the year. A) Service Revenue is a revenue account, not a liability account. B) Salaries and Wages Expense is an expense account, not a liability account. C) Accumulated Depreciation is a contra-asset account and does not represent a liability.

Which of the Following Accounts Would Be Classified as a Current