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Rama09 [41]
3 years ago
13

A company has the following liabilities at year end:

Business
1 answer:
lisov135 [29]3 years ago
4 0

Answer:

B) $16,000

Explanation:

Current liabilities are debt that must be paid within a 12 month period.

The total value of the notes payable is $355,000, but only $16,000 is due within 12 months. The $175,000 of short term debt has been refinanced and reclassified as long term debt. The $25,000 of deferred tax liability is also non current.

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