Which of the Following Would Not Normally Be Classified as a Non-Current

question 44

Multiple Choice

Which of the following would not normally be classified as a non-current liability?

• A) current portion of non-current debt
• B) bonds payable
• C) mortgage payable
• D) lease liabilities

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Definitions:

Gross Profit Rate

The gross profit rate is a financial metric indicating the percentage of revenue that exceeds the cost of goods sold, showcasing the efficiency of a company in managing its production costs.

Merchandise Inventory

Goods a company intends to sell in the normal course of business, tracked in an account for accounting and management purposes.

Estimated Cost

An approximation of the financial expenses associated with a project, product, or service before it is fully realized.

Physical Inventory

A process of counting all the physical goods and inventory in a store or warehouse at a specific point in time.