Which of the following is not a current liability on December 31, 2017?
A)A Note Payable due December 31, 2018
B)An Accounts Payable due January 31, 2018
C)A lawsuit judgment to be decided on January 10, 2018
D)Accrued salaries payable from 2017

Question

Quizplus · Accepted Answer

A lawsuit judgment is not yet decided, so it cannot be classified as a current liability until a decision is made. The other options are all current liabilities as of December 31, 2017.

Which of the Following Is Not a Current Liability on December