Obligations that will become due and payable during the next year or within the operating cycle are know as:

Question

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Current liabilities are obligations that are expected to be settled within the next year or operating cycle, whichever is longer. Long-term liabilities refer to obligations that are due over a period exceeding one year. Credit liabilities and accounts payable are subsets of current liabilities.

Obligations That Will Become Due and Payable During the Next