Which One of the Following Is Shown First Under Current

question 20

Multiple Choice

Which one of the following is shown first under current liabilities by many companies as a matter of custom?

• A) Accrued expenses
• B) Current maturities of long-term debt
• C) Sales taxes payable
• D) Notes payable

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Definitions:

Direct Labor Rate

The rate paid for the labor time per unit of work or hour worked by an employee directly involved in production.

Cost Drivers

Factors that cause the cost of an activity or process to change, affecting the overall cost of production.

Budgets

Financial plans that estimate income and expenditures for a specific period, often used for planning and control purposes.

Colorado Rockies

A major mountain range in western North America, extending from the northernmost part of British Columbia, in Canada, to New Mexico, in the southwestern United States.