Which One of the Following Is a Current Liability

question 19

Multiple Choice

Which one of the following is a current liability?

• A) Note payable to a supplier in 13 months
• B) Amount due from a customer in two weeks
• C) Account payable to a supplier that is due next week
• D) Loan payable to the bank in 18 months
• E) Amount due from a customer that is past due

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Definitions:

Communism

A political and economic ideology proposing common ownership of the means of production and the absence of social classes, money, and the state.

Nuclear Annihilation

The complete destruction or obliteration of an area, population, or country through the use of nuclear weapons, a global threat especially during the Cold War era.

U.S.-Soviet Relations

The diplomatic and political relationship between the United States and the Soviet Union during the 20th century, notably characterized by the Cold War.

Korean War

A conflict between North Korea (with support from China and the Soviet Union) and South Korea (with support from the United Nations, primarily the United States), lasting from 1950 to 1953 and resulting in a separation along the 38th parallel.