Question

Which of the following in not classified as a current liability?

		Salaries and wages payable
		Payroll taxes payable
		10-year bonds payable, maturing in 6 months
		Note payable, due in 4 years

Answer 1

Answer : Notes payable due in 4 years

explanation

current liabilities are  the  short term obligations to the business . the obligations or debts payable in one year are called current liabilities . examples of current liabilities , accounts payable , salaries outstanding , unearned revenue , short term notes payable .

salaries and wages payable is a current liability

Payroll taxes payable is a current liability

10 year Bond payable meture in 6 months is a current liability

Notes payable due in 4 years is a long term liability