Those obligations that are due within one year or the normal operating cycle of the business and will be paid with money provided by the current assets are called

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Current liabilities are the obligations of a company that are expected to be paid off within a year or within the normal operating cycle of the business, whichever is longer. These are typically short-term debts that are paid using the current assets of the company, such as cash or inventory. Investments and marketable securities are not liabilities, and long-term liabilities are debts that are due after one year or the normal operating cycle of the business.

Those Obligations That Are Due Within One Year or the Normal