Which of the following is not a current liability?
A)Accounts payable.
B)A note payable due in 2 years.
C)Current portion of long-term debt.
D)Sales tax payable.

Question

Quizplus · Accepted Answer

A note payable due in 2 years is a long-term liability, not a current liability. Current liabilities are obligations that are expected to be paid within one year or within the normal operating cycle of a business, whichever is longer. Accounts payable, current portion of long-term debt, and sales tax payable are all examples of current liabilities.

Which of the Following Is Not a Current Liability