Which of the following is NOT a current liability?
A) income taxes payable
B) accrued expenses
C) note payable
D) account receivable

Question

Quizplus · Accepted Answer

Account receivable is not a current liability, it is a current asset as it is money owed to the company by customers. A current liability is a debt or obligation that a company owes and needs to settle within a year or operating cycle, whichever is longer. Examples of current liabilities include income taxes payable, accrued expenses, and note payable.

Which of the Following Is NOT a Current Liability