Which Is a Non-Current Liability

question 35

Multiple Choice

Which is a non-current liability?

• A)HST payable.
• B)45 day accounts payable.
• C)Five year loan that matures four months after year end reporting date.
• D)The creditor has granted a 15-month grace period on a loan in default.

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Definitions:

Shares

Units of ownership interest in a corporation or financial asset, providing a share in the company's profits and losses.

Geometric Average Returns

A method of calculating the average rate of return of a set of values that accounts for the effects of compounding, useful for assessing the performance of investments over time.

Returns

The profits or losses generated by an investment over a specific period, often expressed as a percentage of the initial investment cost.

Years

Units of time representing a period of twelve months or 365 days, used as a measure of time passing.