Which of the Following Is Not a Typical Example of a Current

question 10

Multiple Choice

Which of the following is not a typical example of a current liability?

• A)Revenue collected in advance.
• B)Accrued interest payable.
• C)Employee taxes withheld.
• D)Mortgage payable.

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Definitions:

Temporary

Describes a condition or period that is not permanent and is intended to last only for a limited time.

Revocable

Capable of being revoked, withdrawn, or annulled, often used in the context of legal agreements or trusts.

License

A permit from an authority to own or use something, do a particular thing, or carry on a trade.

Trademark

A symbol, word, or phrase legally registered or established by use as representing a company or product, serving to distinguish goods or services from those of other producers.