Classify the following accounts as current assets, noncurrent assets, current li
ID: 2538509 • Letter: C
Question
Classify the following accounts as current assets, noncurrent assets, current liabilities, noncurrent liabilities, contributed capital, or accumulated other comprehensive income.
Current portion of long-term debt - Current liabilities
Property, plant, and equipment - net non-current asset
Investments in affiliate companies (noncurrent) - Noncurrent assets
Accounts receivable - Current assets
Investments at fair value held for immediate sale - Contributed capital
Accounts payable - Current liabilities
Explanation / Answer
Current portion of long-term debt - Current liabilities
Property, plant, and equipment - net non-current asset
Investments in affiliate companies (noncurrent) - Noncurrent assets
Accounts receivable - Current assets
Investments at fair value held for immediate sale - Current assets
Accounts payable - Current liabilities