Which of the Following Items Is a Current Liability

question 27

Multiple Choice

Which of the following items is a current liability?

• A) Bonds (for which there is an adequate sinking fund properly classified as a long-term investment) due in three months.
• B) Bonds due in three years.
• C) Bonds (for which there is an adequate appropriation of retained earnings) due in eleven months.
• D) Bonds to be refunded when due in eight months, there being no doubt about the marketability of the refunding issue.

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Definitions:

Progress

The forward or onward movement towards achieving a goal or improving a situation.

Knowledge

The information, understanding, and skills gained through experience or education.

Nonhuman Species

This term refers to all living beings that are not classified as humans, encompassing a wide diversity of life forms from simple organisms to complex animals.

Communication Mechanisms

The methods or processes through which individuals or entities convey information or express their thoughts and feelings to one another.