Notes Payable Due in 60 Days)would Appear as A

question 100

Multiple Choice

Notes payable due in 60 days) would appear as a:

• A)current liability on the balance sheet.
• B)long- term asset on the balance sheet.
• C)current asset on the balance sheet.
• D)long- term liability on the balance sheet.

---

Definitions:

Trend Percentage

A financial analysis tool that shows how a set of financial or quantitative data changes over time, often expressed as a percentage.

Common-size Statement

A financial statement that presents all line items as a percentage of a common base figure, facilitating comparison across time and entities.

Asset Turnover Ratio

A financial metric that measures the efficiency of a company in using its assets to generate sales or revenue, calculated by dividing sales or revenue by the average assets.

Net Sales

The amount of revenue from sales transactions minus returns, allowances for damaged or missing goods, and discounts.