Bonds payable usually are classiﬁed on the statement of ﬁnancial position as which of the following?
A) Current liabilities.
B) Long-term liabilities.
C) Investments and funds.
D) Current assets.

Question

Quizplus · Accepted Answer

Bonds payable are typically classified as long-term liabilities on the statement of financial position because they are debts that are due more than one year in the future.

Bonds Payable Usually Are Classiﬁed on the Statement of ﬁNancial