Of the Following Items, the Only One Which Should Not

question 30

Multiple Choice

Of the following items, the only one which should not be classified as a current liability is

• A) current maturities of long-term debt.
• B) sales taxes payable.
• C) short-term obligations expected to be refinanced.
• D) unearned revenues.

---

Definitions:

Wider Selection

A broader array of choices or options available in a specific context, such as products, services, or goods.

Price Inelastic

Describing a situation where the demand for a product does not significantly change with a change in the product's price.

Price Elastic

A measure of how the quantity demanded of a product or service changes in response to a change in its price.

Sales Volume

The total quantity of goods or services sold within a specific period, often used as an indicator of business performance.