Current Liabilities as Reported on the Balance Sheet Do NOT

question 62

Multiple Choice

Current liabilities as reported on the balance sheet do NOT include:

• A)current maturities of long-term debt.
• B)income taxes payable.
• C)salaries payable.
• D)treasury stock.

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Definitions:

Demand Schedules

Tabular representations showing the quantity of a good or service that consumers are willing and able to buy at various prices, over a specified period.

Surplus

In economics, the amount by which the quantity of a product exceeds the quantity demanded at a specific price.

Shortage

A market condition in which demand for a good or service exceeds the supply available at a specific price.

Demand Schedules

A table that lists the quantity of a good that consumers are willing and able to purchase at various prices.