Which of the following accounts could not be classified as a current liability?
A) Unearned revenues.
B) Notes payable (due in 11 months).
C) Accounts payable.
D) Current portion of long-term note payable.
E) Notes payable (due in 5 years).

Question

Quizplus · Accepted Answer

Notes payable (due in 5 years) is a long-term liability and therefore cannot be classified as a current liability. The remaining options, unearned revenues, notes payable (due in 11 months), accounts payable, and current portion of long-term note payable, are all examples of current liabilities.

Which of the Following Accounts Could Not Be Classified as a Current