Bonds payable usually are classified on the statement of financial position as which of the following?
A)Current liabilities.
B)Long-term liabilities.
C)Investments and funds.
D)Current assets.

Question

Quizplus · Accepted Answer

Bonds payable are typically long-term liabilities because they have a maturity date that is more than one year from the date of the statement of financial position. Current liabilities are those obligations that are due within one year, while investments and funds and current assets are different categories on the statement of financial position.

Bonds Payable Usually Are Classified on the Statement of Financial