Short-term liabilities are those liabilities that
A) will be paid in less than one year
B) are due to be paid in 5 to 10 years
C) are due to be paid in more than one year
D) are owed to the owner and will never be paid

Question

Quizplus · Accepted Answer

Short-term liabilities are those liabilities that need to be paid within a year or less. Option A correctly defines short-term liabilities. Options B, C, and D are incorrect as they define other types of liabilities.

Short-Term Liabilities Are Those Liabilities That