Which one of the following is not a current liability?
A) Taxes payable
B) Accounts payable
C) Wages payable
D) Wage expense

Question

Quizplus · Accepted Answer

Wage expense is not a current liability; it is an income statement account representing the cost of labor incurred by a company during a specific period. Current liabilities, on the other hand, are obligations the company expects to pay within one year, such as taxes payable, accounts payable, and wages payable.

Which One of the Following Is Not a Current Liability