Current liabilities are debts due within the ________ year or within the normal operating cycle if ________.
A) past; longer than a year
B) next; longer than a year
C) past; shorter than a year
D) next; shorter than a year

Question

Quizplus · Accepted Answer

Current liabilities are obligations that a company expects to pay within the next year or within its normal operating cycle, whichever is longer. This definition allows for the inclusion of debts that may extend slightly beyond a year if they align with the company's operational cycle.

Current Liabilities Are Debts Due Within the ________ Year or Within