Current liabilities are debts that are expected to be satisfied within
A)one year or the normal operating cycle,whichever is shorter.
B)one year or the normal operating cycle,whichever is longer.
C)one year.
D)the normal operating cycle.

Question

Quizplus · Accepted Answer

Current liabilities are obligations that a company expects to pay within one year or its operating cycle, whichever is longer. This includes debts and other financial responsibilities that are due within this timeframe.

Current Liabilities Are Debts That Are Expected to Be Satisfied