Ben Chase needs to pay off some of his debts over the next few months.Which item on his balance sheet would help him decide what amounts are due in the near future?
A)the budget variance
B)investment assets
C)long-term liabilities
D)current liabilities
E)current assets

Question

Quizplus · Accepted Answer

Current liabilities represent debts that are due in the near future, typically within the next 12 months. Therefore, Ben Chase should look at his current liabilities to see what amounts are due soon and prioritize paying them off.

Ben Chase Needs to Pay Off Some of His Debts