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    hotlips12 Posts: 2, Reputation: 1
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    #1

    Feb 24, 2009, 05:15 PM
    Current liability/property plant and equipment
    Which of the following accounts is not classified as a current liability?

    a. accounts payable
    b. note payable, due in 3 years
    c. salaries payable
    d. current portion of long term debt

    Which of the following accounts would not be included under the property plant and equipment section of the balance sheet?

    a. Land
    b. buildings
    c. accumulated depreciation, buildings
    d. depreciation expense, building
    hotlips12's Avatar
    hotlips12 Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Feb 24, 2009, 06:00 PM
    Quote Originally Posted by hotlips12 View Post
    Which of the following accounts is not classified as a current liability?

    a. accounts payable
    b. note payable, due in 3 years
    c. salaries payable
    d. current portion of long term debt

    Which of the following accounts would not be included under the property plant and equipment section of the balance sheet?

    a. Land
    b. buildings
    c. accumulated depreciation, buildings
    d. depreciation expense, building
    My answers are for the first question is B because my uderstanding is anything less than a year is defined as current. My answer would be D for the next question. I am really not sure. If I could get some feedback. Thanks!
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