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Identify the Following Items Numbered as 1 Through 5 Below

Question 35

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Identify the following items numbered as 1 through 5 below as either of the following:

A. Current operating liability
B. Current non-operating liability

Premises:
Short-term loans from a financial institution
Rent payable
Insurance premiums payable
Current maturities of long-term debt
Utilities payable
Responses:
Current operating liability
Current non-operating liability

Correct Answer:

Short-term loans from a financial institution
Rent payable
Insurance premiums payable
Current maturities of long-term debt
Utilities payable
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