The Current Portion of a Long-Term Note Payable Is Classified

question 55

Multiple Choice

The current portion of a long-term note payable is classified on the balance sheet as a:

• A)current asset.
• B)current liability.
• C)long-term asset.
• D)long-term liability.

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Definitions:

Red Wine

An alcoholic beverage made from fermented grapes that is often associated with various health benefits when consumed in moderation.

Dark Chocolate

A type of chocolate containing a higher percentage of cocoa solids and less sugar than milk chocolate, known for its potential health benefits.

Daily Values

Nutritional reference amounts labeled on food packages to help consumers see how a food fits into their daily meal plan.

Caloric Intake

The total number of calories consumed through food and beverages over a period of time, critical in managing weight and energy levels.