What is the balance sheet classification of a bank account whose fund balance is restricted for retirement of bonds that mature in six years?
A) current asset
B) noncurrent asset
C) current liability
D) noncurrent liability

Question

Quizplus · Accepted Answer

The bank account with funds restricted for the retirement of bonds maturing in six years is classified as a noncurrent asset because it is not expected to be used within the next year.

What Is the Balance Sheet Classification of a Bank Account