The current portion of long-term debt should be
A)Reported as a current liability on the balance sheet.
B)Reported as a long-term liability on the balance sheet.
C)Combined with the rest of the long-term debt on the balance sheet.
D)Paid immediately.

Question

Quizplus · Accepted Answer

The current portion of long-term debt represents the amount of long-term debt that is due within the next year. Therefore, it should be reported as a current liability on the balance sheet.

The Current Portion of Long-Term Debt Should Be