Which of the Following Is Not a Current Liability on December

question 93

Multiple Choice

Which of the following is not a current liability on December 31, 2017?

• A)A Note Payable due December 31, 2018
• B)An Accounts Payable due January 31, 2018
• C)A lawsuit judgment to be decided on January 10, 2018
• D)Accrued salaries payable from 2017

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Definitions:

Factory Overhead

Costs incurred in the production process that cannot be directly linked to specific products, such as maintenance, utilities, and salaried personnel.

Product Cost

An aggregate measure of the total costs involved in creating a product, including direct, indirect, and overhead costs.

Vice President

An executive or senior officer in a business or organization, typically reporting to the president or CEO, with specific responsibilities that vary by the entity.

Finance

The management of large sums of money, especially by governments or large companies, encompassing activities such as lending, investing, and budgeting.