The current portion of long-term debt would appear on the balance sheet as
A)current liability.
B)long-term liability.
C)current asset.
D)long-term debt.

Question

Quizplus · Accepted Answer

The current portion of long-term debt represents the portion of a long-term loan that must be paid within the next year, and is therefore classified as a current liability on the balance sheet. This is because it is due for payment in the short term, or within the next accounting cycle.

The Current Portion of Long-Term Debt Would Appear on the Balance