Which of the Following Should NOT Be Included in the Current

question 42

Multiple Choice

Which of the following should NOT be included in the current liabilities section of the statement of financial position?

• A) trade accounts payable
• B) current portion of long-term debt to be retired by non-current assets
• C) short-term zero-interest-bearing notes payable
• D) a liability due on demand (callable debt)

---

Definitions:

Self-Control

The competency to govern emotions, thoughts, and actions in situations of temptation and impulse.

Normative Age-Graded

Refers to societal expectations for the appropriate timing of life events.

History-Graded Influences

Social and historical factors that uniquely affect individuals born around the same period.

Development

The process of change and growth throughout the life span, including physical, cognitive, psychological, and social aspects.