Which of the following items cannot be found on a firm's balance sheet under current liabilities?

Question

Quizplus · Accepted Answer

Cost of goods sold is an expense item and is found on the income statement, not on the balance sheet under current liabilities. Accrued payroll taxes, accounts payable, short-term notes payable to the bank, and accrued wages are all typical examples of current liabilities that can be found on a firm's balance sheet.

Which of the Following Items Cannot Be Found on a Firm's