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a current liability
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Is a loan is current liability or long term liability in the balance sheet?
If loan is payable within twelve month of issuance of loan then it is current liability but if it is payable in more than one fiscal year then it is long term liability but even in long term loan, that portion of loan which is payable in current fiscal year is current liability and remaining portion is long term liability.
Is bank loan a current liability?
That depends on the term of the loan. Let's define Current Liability and Long-Term LiabilityA current liability is any liability that will be paid off within one year (or less) or one accounting cycle. A bank loan, if is financed for One Year or less, would be classified as a Current Liability.A Long-Term Liability is anything OVER a year. So if the bank loan is financed for more than one year, it will then be classified as a Long-Term Liability.
What is the current portion of long-term debt classified with?
Current portion of long term loan is classified as current liability and shown under current liability section of balance sheet.
Are billings in excess of cost a current liability or long term liability?
Yes it is a current liability
Is it true all long term liabilties become current liabilities?
Long term liability becomes the current liability in that year in which it is to be cleared so Yes, long term liability become current liability.
Is a loan is current liability or long term liability in the balance sheet?
If loan is payable within twelve month of issuance of loan then it is current liability but if it is payable in more than one fiscal year then it is long term liability but even in long term loan, that portion of loan which is payable in current fiscal year is current liability and remaining portion is long term liability.
Is a long term loan repayable in 6 years a non current asset or non current liability?
It is a loan repayable. Hence it is a liability. As the liability is for more than one year, it is non current liability.
Is bank loan a current liability?
That depends on the term of the loan. Let's define Current Liability and Long-Term LiabilityA current liability is any liability that will be paid off within one year (or less) or one accounting cycle. A bank loan, if is financed for One Year or less, would be classified as a Current Liability.A Long-Term Liability is anything OVER a year. So if the bank loan is financed for more than one year, it will then be classified as a Long-Term Liability.
What is the current portion of long-term debt classified with?
Current portion of long term loan is classified as current liability and shown under current liability section of balance sheet.
Is a bank loan a long term liability?
That depends, how much is the bank loan, how long is the loan for. Most times YES it would be a long term liability.One sure way of knowing whether it is long term or current. Long Term is a loan or payable that will not be paid off in one years time. Current is one that will be paid off in one years time or LESS!Just rememberCurrent Liability -Account Payable (short term) - 12 months or lessLong Term Liability -Note Payable (long term) - 1 year or moreNote... Liabilities that are short term are listed under current liabilities, Current Liability is the Balance Sheet category for a Short Term Liability.
Are billings in excess of cost a current liability or long term liability?
Yes it is a current liability
Is it true all long term liabilties become current liabilities?
Long term liability becomes the current liability in that year in which it is to be cleared so Yes, long term liability become current liability.
Is subordinated capital notes a current liability or a long term liability?
Long term
What is the fundamental variable which is used to determine if a liability is a current liability or a long term liability?
if liability is payable within one fiscal year then it is current liability while if it is payable for morethan one fiscal year then it is long terrm liability.
Is salary payable a current liability or long term liability?
It should be current liability because it is made monthly, not per year.
Sundry creditor is a -------------- 1.current liability 2.long term liability 3.current asset. 4.fixed asset.?
Sundry creditor is current liability.
Is long term debt an operating liability?
NO. But the Current maturities of long-term debt is an operating liability.
