Liabilities that fall due within one year or within the operating cycle are classified as current liabilities.

Name: Liabilities that fall due within one year or within the operating cycle are classified as current liabilities.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Current liabilities are those that are expected to be settled within one year or within the normal operating cycle of the business, whichever is longer. Examples of current liabilities include accounts payable, short-term loans, and accrued expenses.

Liabilities That Fall Due Within One Year or Within the Operating