Which of the Following Correctly Describes Interest Payable

question 85

Multiple Choice

Which of the following correctly describes Interest payable?

• A)Interest payable is shown on the balance sheet as a current asset.
• B)Interest payable is shown on the balance sheet as a non- current liability.
• C)Interest payable is shown on the income statement as an operating expense.
• D)Interest payable is shown on the balance sheet as a current liability.

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Definitions:

Smart

Having or showing a quick-witted intelligence or incorporating technology that allows for operation in a more efficient or sophisticated manner.

Purchasing

Purchasing involves the process of acquiring goods or services in exchange for money or its equivalent.

Electronic Exchanges

Online platforms where buyers and sellers can meet to trade goods, services, or securities.

Transactions

The action of conducting business, trading, or an exchange between parties.