Which item is NOT a current liability?

A mortgage payable is classified as a long-term liability rather than a current liability. Current liabilities are obligations that a company expects to settle within one year or within its operating cycle, whichever is longer. Examples of current liabilities include accounts payable, interest payable, and unearned revenue, all of which are due within a short timeframe.

In contrast, a mortgage payable typically represents a long-term loan secured by real property, and the majority of its payment obligations extend beyond the one-year mark. This distinguishes it from the other items listed, which are all obligations expected to be paid off in the near term. Understanding this classification is essential for accurate financial reporting and ensuring that users of financial statements can assess a company's liquidity and financial health effectively.