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:

Floods

Natural disasters characterized by the overflow of water onto land that is normally dry, often caused by heavy rainfall, storm surges, or the melting of snow and ice.

Droughts

Extended periods of unusually low precipitation leading to a shortage of water.

Human-Activated

Refers to processes or systems that require human action to be initiated or operated, distinguishing from those that function automatically or naturally.

Destroying Vegetation

The act of causing damage or destruction to plant life, often due to human activities or natural disasters.