The Current Portion of Long-Term Notes Payable Is ________

question 64

Multiple Choice

The current portion of long-term notes payable is ________.

• A) the amount of principal that will be paid within five years
• B) typically included with the long-term liabilities on the balance sheet
• C) recorded as an adjusting entry
• D) reclassified as current for reporting purposes on the balance sheet

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Definitions:

Compile-Time

The phase in software development when source code is transformed into executable code by a compiler, before the program is run.

Declaration Statement

In programming, a declaration that introduces a new variable or function by defining its type and, if chosen, initializing it.

Run-Time

The period during which a computer program is executing, after compilation.

Time Duration

The measurement of the amount of time that passes between the start and end of an event or period.