Which One of the Following Is a Current Liability

question 5

Multiple Choice

Which one of the following is a current liability?

• A)Portions of notes payable due beyond the next accounting period
• B)Sales taxes paid on new equipment acquired
• C)Estimated costs of hurricanes which might develop in the Caribbean during next hurricane season
• D)Football tickets sold to customers for games in the coming season

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Definitions:

Ball Cap

A type of hat with a rounded crown and a stiff bill projecting in front, often worn for casual occasions and sporting events.

Abstract

A brief summary of a research article, thesis, review, or other long report on a subject or project.

Concrete

Existing in a material or physical form; not abstract.

Concept

An abstract idea or a mental symbol that represents some aspect of the world, often forming the basis of thought.