Which of the Following Are Included in Current Liabilities

question 47

Multiple Choice

Which of the following are included in current liabilities?
I.Note payable to a supplier in eighteen months.
II.Debt payable to a mortgage company in nine months.
III.Trade payables to suppliers.
IV.Loan payable to the bank in fourteen months.

• A)I and III only.
• B)II and III only.
• C)III and IV only.
• D)II, III, and IV only.
• E)I, II, and III only.

---

Definitions:

Merchant

An individual or company engaged in the business of selling goods or services in the marketplace.

Ordinary Course of Business

Regular and routine operations of a company, including transactions and activities that are normal for the business.

Acceptance Effective

The point in time when an agreement to the terms of an offer is communicated by the offeree to the offeror, resulting in a legally binding contract.

Dispatched

Sent off to a destination or for a specific purpose, often used in the context of sending out goods, documents, or personnel.