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When preparing the balance sheet for AAA,Inc.for December 31,2015,which item would not be classified as a current liability?
Interest Expense
The cost incurred by an entity for borrowed funds over a period of time, often related to loans or credit.
Journal Entry
A record in the accounting journals that details a financial transaction and its effect on account balances.
FICA Social Security
A U.S. government program funded through payroll taxes that provides benefits to retirees, disabled individuals, and survivors.
FICA Medicare
FICA Medicare refers to the portion of the Federal Insurance Contributions Act tax that is designated for Medicare, providing health insurance for individuals over 65 and some younger people with disabilities.
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