Which One of the Following Is Shown First Under Current

question 19

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 and accounts payable

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Definitions:

Order

A binding decision rendered by a judge.

Joint Payees

People who are collectively named to receive payment or performance as stipulated in a contract or agreement.

Endorsement

Approval, support, or recommendation of a product, service, or concept, often by a public figure or organization.

Negotiated

Refers to the process by which parties discuss and reach a mutual agreement on the terms and conditions of a deal or contract.