Which of the following items would be least likely to appear in the current liabilities section of a classified balance sheet?
A)Interest payable
B)Salaries payable
C)Accounts payable
D)All of these answer choices are correct.

Question

Quizplus · Accepted Answer

Current (short-term)liabilities would be those due within one year or an operating cycle,whichever is longer.An operating cycle is defined as the average time it takes a business to convert cash to inventory,inventory to accounts receivable,and accounts receivable back to cash.Accounts payable,interest payable,and salaries payable are typically current liabilities.

Which of the Following Items Would Be Least Likely to Appear