Short-term liabilities are also known as ________ liabilities.

Question

Quizplus · Accepted Answer

Short-term liabilities refer to debts or obligations that are due within one year or less, and they are also known as current liabilities. Current liabilities include accounts payable, accrued expenses, and short-term loans or lines of credit. Fixed and debenture liabilities are long-term liabilities, and instant and past-due liabilities are not commonly used terms to describe liabilities in accounting.

Short-Term Liabilities Are Also Known as ________ Liabilities