Which of the following is NOT a current liability? a. Payments received in advance. b. Payments...
Which of the following is NOT a current liability?
a. Payments received in advance.
b. Payments due to suppliers
c. Payments made in advance
d. All of these are current liabilities
e. Salaries due to employees
Homework Answers
c. Payments made in advance
Payments made in advance are recorded as current assets on a company's balance sheet.
OPTION c. Payments made in advance.
(It is NOT a current liability as payments are made but supplies/services still due.
It is a current asset).
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