Which of the Following Accounts Would Be Classified as a Current

question 125

Multiple Choice

Which of the following accounts would be classified as a current liability on a classified balance sheet?

• A) Service Revenue
• B) Salaries and Wages Expense
• C) Accumulated Depreciation
• D) Interest Payable

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Definitions:

Labor

The engagement of human abilities, both physical and mental, in crafting goods and services.

Garden Gnomes

Decorative statues often placed in gardens, depicting mythological creatures known as gnomes.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping, indicating that demand decreases as price increases.

Plaster

A building material made of lime or gypsum, water, and sand, used for coating walls and ceilings.