Of the Following Items, the Only One Which Should Not

question 30

Multiple Choice

Of the following items, the only one which should not be classified as a current liability is

• A) current maturities of long-term debt.
• B) sales taxes payable.
• C) short-term obligations expected to be refinanced.
• D) unearned revenues.

---

Definitions:

Fixed Intervals

Regular, predetermined periods of time during which certain activities or operations occur.

Equal Cash Flows

A series of identical cash inflows or outflows occurring over a specified period.

Annuity

A series of equal cash receipts spaced equally in time; a series of equal net cash flows at fixed time intervals.

Sensitivity Analysis

A form of analysis that considers the impact of changing one or more inputs or assumptions on the resulting outcome.