Question

Which of the following items would be likely to appear in the current liabilities section of a classified balance sheet. A. Interest payable B. All of these answer choices are correct. C. Accounts payable D. Salaries payable

Answer 1

The likely item to appear in the current liabilities section of a classified balance sheet is Accounts Payable.

Step-by-step explanation:

The likely item to appear in the current liabilities section of a classified balance sheet is Accounts Payable. Accounts Payable represents amounts owed by a company to its suppliers or service providers for goods and services received but not yet paid for. Other potential items that could appear in the current liabilities section include Interest Payable, which represents interest due on loans or debt, and Salaries Payable, which represents wages owed to employees but not yet paid. Therefore, the correct answer is C. Accounts Payable.