All of the Following Are Reported as Current Liabilities EXCEPT

question 173

Multiple Choice

All of the following are reported as current liabilities EXCEPT:

• A)unearned revenues for services to be provided in 16 months.
• B)sales tax payable.
• C)accounts payable.
• D)bonds payable due in 6 months.

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Definitions:

Low-value

Describing items or services that are relatively inexpensive or considered to be of minor importance or worth.

Oral Auction

An event where items or services are sold to individuals who make the highest spoken offer.

True Values

Refers to the actual, inherent value or worth of an item, property, or financial instrument, as opposed to its market price or cost.

Just over

Slightly more than a specified amount, number, or degree.