Multiple Choice
Which of the following correctly describes Interest payable?
A) Interest payable is shown on the balance sheet as a non-current liability.
B) Interest payable is shown on the balance sheet as a current liability.
C) Interest payable is shown on the income statement as an operating expense.
D) Interest payable is shown on the balance sheet as a current asset.
Correct Answer:
Verified
Correct Answer:
Verified
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