Which of the Following Statements Concerning Current Liabilities Is Incorrect

question 73

Multiple Choice

Which of the following statements concerning current liabilities is incorrect?

• A) Current liabilities include unearned revenues.
• B) A company that has more current liabilities than current assets is usually the subject of some concern.
• C) Current liabilities include prepaid expenses.
• D) A current liability is a debt that can reasonably be expected to be paid out of existing current assets or result in the creation of other current liabilities.

---

Definitions:

Informational Support

The provision of advice, guidance, and suggestions to help someone deal with personal issues or tasks.

Advancement Stage

A phase in a career or business cycle characterized by growth, expansion, and progress towards achieving long-term goals and objectives.

Career Stage Model

A framework that describes the various phases an individual goes through in their professional life.

Upward Mobility

The capacity or opportunity to move to a higher socioeconomic or professional position.