Region Jet has a $50 million liability at December 31,2012,of which $10 million is payable in 2013.In its December 31,2012 balance sheet,the company reports the $50 million debt as

Question

Quizplus · Accepted Answer

The liability of $10 million payable in 2013 should be reported as a current liability, and the remaining $40 million should be reported as a long-term liability. Therefore, the answer is choice C.

Region Jet Has a $50 Million Liability at December 31,2012,of