Which of the Following Correctly Describes the Accounting Treatment for Interest

question 87

Multiple Choice

Which of the following correctly describes the accounting treatment for interest payable?

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

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Definitions:

WISC-IV

The Wechsler Intelligence Scale for Children-IV, a clinical instrument designed to assess the cognitive ability of children between the ages of 6 and 16.

WAIS-IV

The Wechsler Adult Intelligence Scale-Fourth Edition, a widely used intelligence test designed to measure adult and adolescent cognitive ability.

Wechsler Tests

A set of standardized tests used to assess the intelligence and cognitive abilities of children and adults, developed by David Wechsler.

WISC-IV

The Wechsler Intelligence Scale for Children, Fourth Edition, a comprehensive cognitive assessment tool for children.