Vacation pay payable is reported on the balance sheet as a(n)

Updated on August 6, 2022

Vacation pay payable is reported on the balance sheet as
a(n):

A) current liability

B) long-term liability

C) expense

D) current liability or long-term liability, depending upon when
the vacations will be taken by employees

Answer

Answer:

The correct answer is option D).

Vacation pay payable shall be reported on the balance
sheet as current liability or long term liability, depending upon
when the vacations will be taken by the employees.

See also  Taking supplements vaccine ?