Which of the following consists of noninterest-bearing current liabilities?
A)Accrued income taxes and income taxes payable
B)Accounts receivable and accounts payable
C)Accounts payable and dividends declared
D)Wages payable and notes payable

Question

Quizplus · Accepted Answer

Accrued income taxes and income taxes payable are both current liabilities that do not bear interest. The other options consist of accounts payable, which may or may not bear interest, and notes payable, which always bear interest.

Which of the Following Consists of Noninterest-Bearing Current Liabilities