Homework Answers
Ans. Option B Notes payable due in one year is a current liability.
Explanation:
*Salaries payable is a current liability.
*When a liability dues within one year then it is known as current liability. So the notes payable is treated as current liability it it will due in one year.
*Accounts receivable is a current asset.
*Dividends are listed in the statement of changes in owner's equity.
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