Obligations due to be paid within one year or the company's operating cycle,whichever is longer,are:
A)current assets.
B)current liabilities.
C)earned revenues.
D)non-current liabilities.

Question

Quizplus · Accepted Answer

Obligations due to be paid within one year or the company's operating cycle, whichever is longer, are classified as current liabilities. These are funds owed to creditors or suppliers that the company expects to pay within a year or during the operating cycle, whichever is longer. Examples of current liabilities include accounts payable, wages payable, taxes payable, and short-term loans.

Obligations Due to Be Paid Within One Year or the Company's