Balance sheets usually organize liabilities into two broad categories, which are:
A) long-term liabilities and fixed liabilities.
B) contingent liabilities and long-term liabilities.
C) contingent liabilities and current liabilities.
D) current liabilities and long-term liabilities.

Question

Quizplus · Accepted Answer

Balance sheets typically categorize liabilities into current liabilities, which are due within one year, and long-term liabilities, which are due after one year.

Balance Sheets Usually Organize Liabilities into Two Broad Categories, Which