A long-term liability can have a current component.

Name: A long-term liability can have a current component.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A long-term liability can have a current component if a portion of the liability is due within the current accounting period. For example, a long-term loan may require monthly payments that include both principal and interest, with only the interest portion being due within the current period.

A Long-Term Liability Can Have a Current Component