Which of the following does not affect the current liabilities section of the balance sheet?
A) Purchase of inventory on credit
B) Wages owed to employees but not yet paid
C) Insurance bill to be paid next month
D) Sale of goods on credit
E) A probable legal obligation, due within 12 months

Question

Quizplus · Accepted Answer

The sale of goods on credit affects the accounts receivable and revenue sections of the balance sheet and income statement, respectively, but does not directly impact current liabilities.

Which of the Following Does Not Affect the Current Liabilities