Which of the following liabilities would most likely be listed last on a statement of financial position?
A)Bonds payable,due in 20 years.
B)Accounts payable.
C)Note payable,due in 3 years.
D)Income taxes payable.

Question

Quizplus · Accepted Answer

Bonds payable due in 20 years are usually long-term liabilities and are listed after current liabilities like accounts payable, notes payable due in the short term, and income taxes payable. Therefore, it is the most likely liability to be listed last on a statement of financial position.

Which of the Following Liabilities Would Most Likely Be Listed