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8 January, 22:58

Which of the following is not a liability?

Multiple Choice

A. Notes payable.

B. Current portion of long-term debt.

C. An unused line of credit.

D. Deferred revenue.

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Answers (1)
  1. 9 January, 00:26
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    C. An unused line of credit.

    Explanation:

    The liabilities are the debt or the obligations which the person has to pay the amount in certain future date

    The liabilities are classified into two types i. e current liabilities and the long term liabilities

    The current liabilities are the liabilities in which the time period is within one year whereas long term liabilities are those liabilities in which the time period is more than one year

    So, the note payable, current portion of long-term debt, and the Deferred revenue are liabilities which are shown in the balance sheet
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Home » Business » Which of the following is not a liability? Multiple Choice A. Notes payable. B. Current portion of long-term debt. C. An unused line of credit. D. Deferred revenue.
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