Debts that are due and payable in less than a year
A) Wages Payable
B) Mortgage Payable
C) Long-Term Liabilities
D) All of the above

Question

Quizplus · Accepted Answer

Wages payable are typically due within a short period of time, usually less than a year. Mortgage payable and long-term liabilities, on the other hand, are debts that are due and payable over a longer period of time, usually more than a year.

Debts That Are Due and Payable in Less Than a Year