Match the following items with the appropriate designation (Current liability, Long-term liability, or Not a liability).
-Salaries payable
A)Long-term liability
B)Not a liability
C)Current liability

Question

Quizplus · Accepted Answer

Salaries payable are considered a current liability because they represent an obligation that the company expects to pay off within one year or within the normal operating cycle, whichever is longer.

Match the Following Items with the Appropriate Designation (Current Liability