Which Item Below Is Not a Current Liability

question 78

Multiple Choice

Which item below is not a current liability?

• A) Unearned revenue
• B) Stock dividends distributable
• C) The currently maturing portion of long-term debt
• D) Trade accounts payable

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Definitions:

Permanent/Temporary

Terms used to distinguish between accounts or items that either persist over multiple accounting periods (permanent) or exist for only one period (temporary).

Normal Balance

The side (debit or credit) of an account that is typically increased in accounting.

Financial Statement

Reports that provide detailed information about a company's financial performance and position.

Financial Statement

Documents that provide an overview of a company's financial condition in both short and long term, including balance sheets, income statements, and statements of cash flows.