Debts listed as current liabilities are those 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 stockholders and will never be paid

Question

Quizplus · Accepted Answer

Current liabilities are debts that are due and payable within one year or the operating cycle of a business, whichever is longer. This includes items like accounts payable, short-term loans, and accrued expenses. Therefore, debts listed as current liabilities will be paid in less than one year.

Debts Listed as Current Liabilities Are Those That