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Which of the Following Correctly Describes Interest Payable

Question 3

Multiple Choice

Which of the following correctly describes Interest payable?


A) Interest payable is shown on the balance sheet as a current liability.
B) Interest payable is shown on the income statement as an operating expense.
C) Interest payable is shown on the balance sheet as a current asset.
D) Interest payable is shown on the balance sheet as a long-term liability.

Correct Answer:

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