Which of the following most likely would be classified as a current liability?
A) Mortgage payable
B) Taxes payable
C) Ten-year notes payable
D) Bonds payable

Question

Quizplus · Accepted Answer

Taxes payable are typically due within a year and therefore would be classified as a current liability. Mortgage payable, ten-year notes payable, and bonds payable are all long-term liabilities and would be classified as non-current liabilities.

Which of the Following Most Likely Would Be Classified as a Current