Which of the following would most likely be classified as a current liability? a. bond payable b. two-year note payable c. mortgage payable d. unearned rent

A current liability would be Option D: Unearned rent

Explanation:

Current liabilities are the ones that need to be paid within a year, out of current assets.

In case of 'unearned rent', debit is recorded to the cash account by the landlord. And a balancing credit is logged to the unearned rent account This is a liability account.

The rent is unearned under the cash basis of accounting. the rent that is received by the landlord is considered his income. Thus, out of the given options, unearned rent is the current liability.