Examples of disclosures in the footnotes include inventory valuation revenue recognition method(s) depreciation methods all of the above A current asset is an assets which is currently being used to produce a product or the last asset purchased by a business usually found as a separate classification in the income statement expected to be converted to cash or used in the business within of time. Discounting is the selling of a note receivable sooner than its due date can happen with or without recourse gives the seller current cash and the buyer the ability to receivable all of the above Which of the following is not a current liability? Taxes payable Accounts payable Wages payable