Which of the following items is the current liability?
A) long-term borrowings
B) accounts receivable.
C) accrued utilities expenses.
D) rent expense.

Question

Quizplus · Accepted Answer

Accrued utilities expenses represent a liability that has been incurred but not yet paid. Long-term borrowings represent a long-term debt, accounts receivable represent money owed to the company, and rent expense represents a past transaction and not a liability.

Which of the Following Items Is the Current Liability