Region Jet has a $50 million liability at December 31,2015,of which $10 million is payable in 2016.In its December 31,2015 balance sheet,the company reports the $50 million debt as

Question

Quizplus · Accepted Answer

The liability is split into $10 million payable in 2016, which is a current liability, and $40 million payable after 2016, which is a long-term liability. Therefore, the correct answer is C.

Region Jet Has a $50 Million Liability at December 31,2015,of