Which of the Following Is the Exception to the Category

question 142

Multiple Choice

Which of the following is the exception to the category non-current liability?

• A) accounts payable
• B) mortgage payable
• C) bond payable
• D) note payable (due in 5 years)

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Definitions:

Annual Premium

The amount of money that must be paid per year to maintain an insurance policy or similar financial products.

Coastal Town

A settlement located along or near a coast, often characterized by a maritime economy and culture.

Moral Hazard

A situation where one party is more likely to take risks because another party bears the cost of those risks.

Disaster Relief Funds

Financial assistance provided to individuals, businesses, and communities affected by natural or human-made disasters.