Debts that are due to be paid within one year or within the entity's operating cycle, whichever is longer, are called:
A)current liabilities.
B)liquid liabilities.
C)quick liabilities.
D)deferred liabilities.

Question

Quizplus · Accepted Answer

Current liabilities are financial obligations that a company is expected to pay within one year or within its operating cycle, whichever is longer. This includes debts such as accounts payable, short-term loans, and other similar obligations.

Debts That Are Due to Be Paid Within One Year