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:

Interest

The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.

Payments

Regular amounts of money paid by one party to another, often in exchange for goods, services, or to fulfill a legal obligation.

Ordinary Annuity

Harmony of equal contributions at the end of each cycle for a particular duration.

Expressed

Clearly stated, articulated, or otherwise made known in explicit terms.