Current liabilities are:
A) debts that are expected to be paid in less than one year
B) monies due to the retailer from selling merchandise
C) used to evaluate how effectively managers use their investments
D) one way to evaluate owner's equity
E) net sales minus cost of goods sold

Question

Quizplus · Accepted Answer

Current liabilities are debts and obligations that are expected to be paid within one year or the operating cycle of the business, whichever is longer. This includes items such as accounts payable, accrued expenses, and short-term loans.

Current Liabilities Are