Which of the following accounts could not be classified as a current liability?
A. Accounts payable.
B. Notes payable (due in 11 months).
C. Notes payable (due in 5 years).
D. Current portion of long-term note payable.
E. Unearned revenues.
Answer: C
You might also like to view...
Discuss effective strategies for writing routine business requests
What will be an ideal response?
The Great Recession put heavy pressure on wholesalers to increase their operation costs and limit warehouse automation systems
Indicate whether the statement is true or false
Which of the following is NOT involved in a SWOT analysis?
a. internal environmental strengths b. external environmental opponents c. external environmental threats d. internal environmental weaknesses
Tracer Corp, an exploration company, wishes to develop a silver mine on a piece of land known as the Harris tract. It lacked the capital to do so on its own, so it entered into negotiations with Big Tree Mining Ltd
for a joint venture on the project. The negotiations collapsed. Big Tree, believing Tracer's information that there was a rich silver vein on the Harris tract and knowing that Tracer did not yet own it, bought the land itself and subsequently developed the mine, making a huge profit. Which of the following is true? A) Tracer has no remedy unless it establishes that Big Tree owed it a fiduciary duty. B) Tracer has no remedy unless it establishes that Big Tree acquired the Harris tract pursuant to a constructive trust. C) Big Tree is liable to Tracer for breach of confidence D) Tracer has no remedy unless it establishes that Big Tree committed a breach of contract. E) Any one of A, B, or D