Which of the following is not a liability?
A)Notes payable.
B)Current portion of long-term debt.
C)An unused line of credit.

Name: Which of the following is not a liability? A)Notes payable. B)Current portion of long-term debt. C)An unused line of credit.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

An unused line of credit is not a liability because it is simply a potential source of financing that has not been utilized. Notes payable and current portion of long-term debt are both liabilities that represent actual amounts owed by the company.

Which of the Following Is Not a Liability