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Basic Question 3 of 5
Which of the following is not typically classified as a current liability?
II. Notes payable
III. Bonds payable
IV. Unearned subscription revenue
V. Interest payable
I. Accounts payable
II. Notes payable
III. Bonds payable
IV. Unearned subscription revenue
V. Interest payable
User Contributed Comments 7
| User | Comment |
|---|---|
| bobert | Even if you have a multi-year subscription? The business cycle of a subscription is generally one year I would expect. |
| judylyh | why is bonds payable not a current liability? |
| gulfa99 | bonds payable is a long term liability. its not current liability |
| moneyguy | I guess if a bond is payable within one year it is classified as "Current Maturites of Long-Term Debt". |
| SKIA | The current portion of a note payable (i.e. one year and less) is classified as a current liability while the portion that is greater than one year is not a current liability. |
| a3zhu | most notes payable are within one year. |
| mali97 | bonds at less than one year are current liabilities |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
explain the financial reporting and disclosures related to non-current liabilities
CFA® 2024 Level I Curriculum, Volume 2, Module 3.