Accounting for IGCSE & O level - Final Statements (Section 9 - No. 40)
Which of the following is a current liability?
Accounts Payable
Notes Payable (due in 6 months)
Mortgage Payable (due in 10 years)
Salaries Payable
Explanation
Current liabilities are obligations due within one year. Accounts Payable, Notes Payable, and Salaries Payable fit this definition.