Question

Which of the following represents a current liability? A. Income tax expense B. Long-term loan C....

Which of the following represents a current liability?

A.

Income tax expense
B.

Long-term loan
C.

Short-term notes
D.

Bond issue
E.

None of the above
Business   Accounting   
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Homework Answers

Answer #1

Answer :-

C) short term notes

When a,b ,d are not within a year they are not current liabilities

Explanation:-

Current liabilities are typically settled using current assets, which are assets that are used up within one year.

Examples of current liabilities include accounts payable, short-term debt, dividends, and notes payable, short term notes .

note:- B) long term loan D) Bond issue A) income tax expense are treated as current liability nature within one year of the balance sheet.

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