Multiple Choice
Identify the classifications of the following accounts as either current or long-term liabilities for the December 31, 2014 balance sheet.
-An amount of money owed in 2015 to a creditor as an annual installment payment on a ten-year note, due June 30, 2020.
A) Current liability
B) Long-term liability
Correct Answer:
Verified
Correct Answer:
Verified
Q77: What is the purpose of the current
Q83: Match each of the following terms related
Q95: Accrued wages is not a current liability.
Q101: What is meant by the term "current
Q115: The current maturity of long-term debt is
Q132: International accounting standards use the term provision
Q161: Income taxes payable is a current liability.
Q190: You just purchased an automobile for $19,450
Q192: The landlord records the security deposit she
Q199: What type of interest is calculated on