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

question 95

Multiple Choice

Which of the following accounts could not be classified as a current liability?

• A)Unearned revenues.
• B)Accounts payable.
• C)Notes payable (due in 11 months).
• D)Current portion of long-term note payable.
• E)Notes payable (due in 5 years).

---

Definitions:

Unearned Revenue

Money received by a company for services or products which have not yet been delivered or performed.

Advance Subscription Sales

Revenue received from customers for subscriptions that are paid for before the subscription period begins.

Quarterly Journals

Publications that release issues on a quarterly basis, often academic or professional in nature, covering specific field subjects.

Journalized

Refers to the process of recording financial transactions in the chronological order of their occurrence in a company's journal, which is a primary accounting record.