Which of the following are debts that are to be paid within 12 months?
A) current assets
B) fixed assets
C) current liabilities
D) fixed liabilities

Question

Quizplus · Accepted Answer

Current liabilities are debts that are expected to be paid within 12 months. Current assets are assets that are expected to be converted to cash within 12 months. Fixed assets are long-term assets such as property, plant, and equipment. Fixed liabilities are long-term debts such as loans and bonds that are not due within 12 months.

Which of the Following Are Debts That Are to Be