The Current Portion of a Long-Term Note Payable Is Classified

question 55

Multiple Choice

The current portion of a long-term note payable is classified on the balance sheet as a:

• A)current asset.
• B)current liability.
• C)long-term asset.
• D)long-term liability.

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Definitions:

Inputs

Resources such as raw materials, labor, and capital that are utilized in the production process to create goods or services.

Layout Design

The arrangement of physical facilities or space, such as machinery, equipment, or office furniture, to optimize workflow or use of space.

Themed Restaurants

Restaurants designed around a particular theme, concept, or idea to offer unique dining experiences.