All of the following statements about current liabilities are true except:
A) current liabilities are normally recorded at face value.
B) current liabilities are obligations which will be satisfied within one year.
C) current liabilities finance the working capital of the company.
D) the current liability section never contains any portion of long-term liabilities.

Question

Quizplus · Accepted Answer

The current liability section can contain the current portion of long-term liabilities, which are due within the next year.

All of the Following Statements About Current Liabilities Are True