On a balance sheet, which item would typically be classified as a current liability?
Correct Answer
D) Accounts payable to suppliers
Accounts payable to suppliers are typically due within one year and are classified as current liabilities.
Why This Is the Correct Answer
Accounts payable to suppliers are typically due within one year and are classified as current liabilities.
More NASCLA Questions
Which AIA document contains the general conditions that govern the rights and responsibilities of all parties in a construction contract?
A construction company has direct labor costs of $85,000, direct materials of $120,000, and overhead costs of $45,000 for a project. What is the total job cost?
What is the primary purpose of job cost accounting in construction?
A construction company has current assets of $350,000 and current liabilities of $280,000. What is the company's working capital?
In CSI MasterFormat, which division covers earthwork and site preparation?
In a mechanical drawing, what does 'CFM' typically measure?
In CSI MasterFormat Division 08, which of the following would typically be included?
On a mechanical plan, what does the symbol 'RTU' typically indicate?
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Concrete cylinders tested at 28 days show an average compressive strength of 3,200 psi when the specified strength is 3,000 psi. However, one cylinder tested at 2,750 psi. According to ACI standards, what action is required?