The liabilities that are due to be paid usually within a year or less are called:
A) long-term liabilities.
B) deferred liabilities.
C) current liabilities.
D) contingent liabilities.

Question

Quizplus · Accepted Answer

Current liabilities are those that are due within a year or less. Long-term liabilities are due after more than one year, deferred liabilities have been postponed to a later date, and contingent liabilities are potential liabilities that may or may not occur.

The Liabilities That Are Due to Be Paid Usually Within