Current liabilities
A)are obligations that a firm expects to pay or discharge during the normal operating cycle of the firm, usually one year.
B)include liabilities to merchandise suppliers, employees, and governmental units.
C)include notes and bonds payable to the extent that they will require the use of current assets within the next year.
D)include all of the above.
E)None of the above answers is correct.

Question

Quizplus · Accepted Answer

Current liabilities are obligations that a firm expects to pay or discharge during the normal operating cycle of the firm, usually one year. This includes liabilities to merchandise suppliers, employees, and governmental units, as well as notes and bonds payable to the extent that they will require the use of current assets within the next year. Therefore, option D is the correct answer.

Current Liabilities