Business Ratios Question:
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List the different orders of Current liabilities?
Answer:
Current liabilities are usually presented in the following order:
★ The principal portion of notes payable that will become due within one year
★ Accounts payable
★ The remaining current liabilities such as payroll taxes payable, income taxes payable, interest payable and other accrued expenses.
★ The principal portion of notes payable that will become due within one year
★ Accounts payable
★ The remaining current liabilities such as payroll taxes payable, income taxes payable, interest payable and other accrued expenses.
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