Which of the following is not included in current liabilities?
A) Accounts payable
B) Prepaid insurance
C) Accrued wages
D) Taxes
E) Notes payable

Question

Quizplus · Accepted Answer

Prepaid insurance is not a liability but an asset because it represents payments made in advance for insurance coverage. Current liabilities include obligations the company expects to pay within one year, such as accounts payable, accrued wages, taxes payable, and notes payable.

Which of the Following Is Not Included in Current Liabilities