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:

Rival Nation

A country that competes with another, often in economic, military, or technological aspects.

Mercantilism

An economic theory and practice that promotes government regulation of the nation's economy to increase state power at the expense of rival national powers.

Trade Surplus

A situation where a country's exports exceed its imports over a given period.

Sovereign Country

An independent state that possesses full self-government and is not controlled by another state.