A debt that is expected to be paid within one year through the creation of long-term debt is a current liability.

Name: A debt that is expected to be paid within one year through the creation of long-term debt is a current liability.
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A debt expected to be paid within one year is typically classified as a current liability unless it is intended to be refinanced on a long-term basis, in which case it may be classified as a long-term liability.

A Debt That Is Expected to Be Paid Within One