Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 37

For the following questions, circle the best response.

Which of the following is not typically classified as a current liability?

a. Accounts Payable.

b. Notes Payable.

c. Bonds Payable.

d. Unearned Subscription Revenue.

e. Interest Payable

Step 1 of 6

(a)

Accounts Payable is typically classified as a current liability because its related financial obligations are normally due within one year.