Which of the Following Accounts Would Be Classified as a Current

question 96

Multiple Choice

Which of the following accounts would be classified as a current liability?

• A)Dividends declared.
• B)Unearned revenue.
• C)Wages expense.
• D)Accounts receivable.

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Definitions:

Investment Account

An account that holds securities, shares, or bonds for investment purposes.

Acquisition Differential

The difference between the purchase price of a company and the fair value of its identifiable net assets at the acquisition date, often leading to goodwill if positive.

Non-Controlling Interest

A minority share in a company's equity not sufficient to exert control over the company.

Intercompany Land Sales

Transactions involving the sale of land between companies that are part of the same corporate group.