Question

Which of the following would not be reported as current liabilities on the balance sheet?

a. Accruals
b. Accounts payable
c. Notes payable
d. Accounts Receivable

Answer 1

Accounts Receivable would not be reported as a current liability on the balance sheet; it is instead considered an asset.

Step-by-step explanation:

The item that would not be reported as a current liability on the balance sheet is d. Accounts Receivable. Current liabilities include obligations the company is expected to pay within the next year, such as accruals, accounts payable, and notes payable. Conversely, Accounts Receivable is considered an asset as it represents money that is owed to the company by its customers and is expected to be collected within a year.

Answer 2

D. Accounts receivable