Which of the Following Correctly Describes Interest Payable

question 16

Multiple Choice

Which of the following correctly describes Interest payable?

• A) Interest payable is shown on the balance sheet as a current liability.
• B) Interest payable is shown on the income statement as an operating expense.
• C) Interest payable is shown on the balance sheet as a current asset.
• D) Interest payable is shown on the balance sheet as a long-term liability.

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Definitions:

Eye for an Eye

A principle of retributive justice where the punishment is equivalent to the harm caused by the offense.

Gregg v.Georgia

A landmark Supreme Court decision that reaffirmed the constitutionality of the death penalty in the United States.

Furman v.Georgia

A landmark Supreme Court case that led to a moratorium on capital punishment in the United States, critiquing the arbitrary nature of its application.

Retribution

A concept in criminal justice whereby punishment is exacted on an offender as a form of justified vengeance for their actions.