Which of the following is classified as a current liability?

Accounts Payable is classified as a current liability because it represents money that a company owes to its suppliers and creditors for goods and services received but not yet paid for. Typically, these obligations are expected to be settled within a year, aligning perfectly with the definition of current liabilities, which include financial obligations that are due for payment within one operating cycle or one year, whichever is longer.

This classification reflects the company's short-term financial health and liquidity position, ensuring that stakeholders can assess its ability to meet near-term obligations. In contrast, long-term debt represents obligations that extend beyond one year, while deferred revenue is a liability but specifically tied to performance obligations. Goodwill is an intangible asset resulting from acquisitions and does not fall within either liability category.