Current liabilities would not include what? | Homework.Study.com (2024)

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Current liabilities would not include what? | Homework.Study.com? ›

Answer and Explanation:

The correct answer is Debtors. Debtors do not constitute current liabilities. Debtors are the persons who owe some amount of money to the firm. ​Debtors are assets and are shown as assets in the balance sheet under the current assets section.

Examples of current liabilities include accounts payable, short-term debt, dividends, and notes payable as well as income taxes owed. The analysis of current liabilities is important to investors and creditors.

Examples of current liabilities include accounts payables, short-term debt, accrued expenses, and dividends payable.

Answer and Explanation: Current liability does not include long term loans, bank overdrafts, and assets. This is because current liability includes short term financial tasks, that is, obligations in the business, which are less than one year.

Excluded Current Liabilities means any long-term debt due currently (as used in the Pro Forma Balance Sheet), any retiree obligations included in employee related payables (as used in the Pro Forma Balance Sheet), preferred stock dividends (as used in the Pro Forma Balance Sheet) and accrued incentive plan obligations ...

Current liabilities are the sum of Notes Payable, Accounts Payable, Short-Term Loans, Accrued Expenses, Unearned Revenue, Current Portion of Long-Term Debts, Other Short-Term Debts.

Liabilities are settled over time through the transfer of economic benefits including money, goods, or services. Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.

The correct answer is d.

Accounts payable, accrued expenses, and short-term debts are current liabilities.

What are 10 current liabilities? ›

Current liabilities are the debts that a business expects to pay within 12 months while non-current liabilities are longer term. Both current and non-current liabilities are reported on the balance sheet. Non-current liabilities may also be called long-term liabilities.

Other current liabilities include the income taxes due, interest due on loans, and some other liabilities that are less common, such as current obligations that arose from some restructuring and some gains on the sale of real estate in the prior year that were not recognized until the current year.

Current Liabilities. Obligations to be paid either out of current assets or the creation of other current liabilities that will be paid within 1 year or the operating cycle whichever is longer. Maturing portion of long-term debt is considered a current liability. Ex. Accounts Payable, Notes Payable.

Accounts payable, notes payable, accrued expenses, long-term debt, deferred revenue, unearned revenue, contingent liabilities, lease obligations, pension liabilities, and income taxes payable are the ten types of liabilities in accounting that provide information about a company's financial obligations and ...

Tax liabilities are current liabilities. Current liabilities are short-term debts you must pay within a year. Generally, you incur short-term liabilities from normal business operations. Report tax liabilities with other current debts on your small business balance sheet.

Current liabilities examples are short-term debt, accounts payable (money owed to suppliers), wages owed, income and sales taxes owed, and pre-sold goods and services.

Off-balance-sheet items are contingent assets or liabilities such as unused commitments, letters of credit, and derivatives. These items may expose institutions to credit risk, liquidity risk, or counterparty risk, which is not reflected on the sector's balance sheet reported on table L.

Land is regarded as a fixed asset or non-current asset in accounting and not a current asset. Also read: What Are Current Assets.

Debentures, mortgage loans, and bonds are some of the non-current liabilities examples.