Massawippi Inc A)Option a
B)Option B
C)Option C
D)Option D

Multiple Choice

Massawippi Inc.owes a supplier $10,000.They have signed a note payable for the amount, promising to repay it in six months with interest.They also have a loan outstanding that, starting next year, they will repay in annual instalments over the next five years.How would the note payable and the loan be reported on the balance sheet? $\begin{array}{ll}&\text { Note Payable } &\text { Loan } \\A.&\text { Current liability } & \text { Current liability } \\B.&\text { Current liability } & \text { Non-current liability } \\C.&\text { Non-current liability } & \text { Current liability } \\D.&\text { Non-current liability } & \text { Non-current liability }\end{array}$

A) Option A
B) Option B
C) Option C
D) Option D