Among Oslo Corp

Multiple Choice

Among Oslo Corp.'s short-term obligations, on its most recent statement of financial position date, are notes payable totalling $ 250,000 with the Provincial Bank. These are 90-day notes, renewable for another 90-day period. These notes should be classified on Oslo's statement of financial position as

A) current liabilities.
B) deferred charges.
C) long-term liabilities.
D) shareholders' equity.