Current liabilities are all obligations that require, within the coming year or current operating cycle, whichever is longer:
A) The payment of cash
B) The use of existing current assets
C) The creation of other current liabilities
D) Either B or C
E) None of these

Question

Quizplus · Accepted Answer

Current liabilities are obligations that a company needs to settle within the coming year or its operating cycle, whichever is longer, through the use of existing current assets or the creation of other current liabilities.

Current Liabilities Are All Obligations That Require, Within the Coming