Bills payable
Outstanding expenses
Bank Overdraft
All of the above
Answer is Right!
Answer is Wrong!
The correct answer is D. All of the above.
Current liabilities are debts that a company expects to pay within one year. They include accounts payable, short-term notes payable, current maturities of long-term debt, and unearned revenue.
Bills payable are amounts owed to suppliers for goods or services that have been purchased but not yet paid for. Outstanding expenses are expenses that have been incurred but not yet paid for. Bank overdrafts are negative balances in a company’s checking account.
All of these items are considered current liabilities because they are expected to be paid within one year.