Bills that are to be paid off within a year are called
A)short-term liabilities.
B)one-year liabilities.
C)current liabilities.
D)insignificant bills.

Question

Quizplus · Accepted Answer

Current liabilities refer to bills or debts that are expected to be paid off within a year. Short-term liabilities or one-year liabilities may have a different time frame or may not necessarily be current. "Insignificant bills" is not a commonly used term in accounting or finance.

Bills That Are to Be Paid Off Within a Year