Question

All of the following are reported as current liabilities​ EXCEPT: A.unearned revenues for services to be...

All of the following are reported as current liabilities​ EXCEPT:

A.unearned revenues for services to be provided in 16 months.

B.payroll tax payable.

C.accounts payable.

D.notes payable due in 6 months.

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Answer #1

Answer:Option A (unearned revenues for services to be provided in 16 months.)

Explanation: Unearned revenues for services to be provided in 16 months is the one which is not reported as current liabilities because it is clearly said that the liability will be continued for 16 months which is more than a year., as in general the current liabilities were the one which are accrued to be payable within a year. Therefore All of the given can be reported as current liabilities except unearned revenues for services to be provided in 16 months.

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