Which of the Following Are Included in Current Liabilities

question 61

Multiple Choice

Which of the following are included in current liabilities?
I.note payable to a supplier in eighteen months
II.debt payable to a mortgage company in nine months
III.accounts payable to suppliers
IV.loan payable to the bank in fourteen months

• A)I and III only
• B)II and III only
• C)III and IV only
• D)II, III, and IV only
• E)I, II, and III only

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Definitions:

Breach

The act of violating a law, promise, agreement, or barrier.

Special Circumstances

Situations that are exceptional, and may require different treatment or exceptions to standard rules or policies.

Incidental Beneficiary

A third party for whose benefit a contract was not made but who would substantially benefit if the agreement were performed according to its terms and conditions.

Enforceable Legal Rights

are rights granted by the law that can be brought before a court for protection or enforcement.