Which of the following is not typically a current liability? Capital lease obligation. Accrued interest payable. Revenue collected in advance. The current portion of a long-term debt.

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Which of the following is not typically a current liability? Capital lease obligation

Finance Dec 09, 2020

Which of the following is not typically a current liability?

Capital lease obligation.
Accrued interest payable.
Revenue collected in advance.
The current portion of a long-term debt.

Expert Solution

A company's short-term financial obligations that are due within one year or within a normal operating cycle are called current liabilities. So, The correct option is 1st "Capital lease obligation". Capital lease obligation is not a current liability while Accrued interest payable, Revenue collected in advance and The current portion of a long-term debt are considered as Current Liability.

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