Which of the following describes the debts of a business that will be paid in one year or less?
A) current liabilities
B) expenses
C) prepaid expenses
D) long-term liabilities

Question

Quizplus · Accepted Answer

Current liabilities are debts or financial obligations that are due within one year or the normal operating cycle of a business. This can include accounts payable, short-term loans, and accrued expenses.

Which of the Following Describes the Debts of a Business