CFA Practice Question

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CFA Practice Question

Which of the following is not typically classified as a current liability?

I. Accounts payable
II. Notes payable
III. Bonds payable
IV. Unearned subscription revenue
V. Interest payable
Correct Answer: III only

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
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