Current Liabilities Include All but Which of the Following

question 14

Multiple Choice

Current liabilities include all but which of the following?

• A)Tax payable
• B)Bank overdraft
• C)Marketable securities
• D)Accounts payable

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Definitions:

Financial Institutions

Organizations such as banks and credit unions that provide financial services including deposits, loans, and investments.

EFT

Electronic Funds Transfer, a system of transferring money from one bank account directly to another without any paper money changing hands.

Preauthorized Payment

A prearranged payment that allows a payee to automatically withdraw funds from a payer's account as per the agreed terms, usually on a recurring basis.

Stop Payment

An instruction to a bank by an account holder not to pay or honor a check that has been issued from their account.