A short-term note payable may include all of the following except:
A) Trade notes payable.
B) Non trade notes payable.
C) A current portion of a long-term liability.
D) Unearned revenue.

Question

Quizplus · Accepted Answer

Unearned revenue is a current liability, but it is not a short-term note payable. Short-term notes payable refer specifically to obligations that are in the form of a written promise to pay a certain amount of money at a specific time in the near future. Unearned revenue, on the other hand, is a liability that arises when a company receives payment for goods or services before they have been delivered or earned.

A Short-Term Note Payable May Include All of the Following