All of the following statements about current liabilities are true except
A)current liabilities are obligations that will be satisfied within one year.
B)current liabilities are normally recorded at face value.
C)the Current Liabilities section never contains any portion of long-term liabilities.
D)current liabilities finance the working capital of the company.

Question

Quizplus · Accepted Answer

This statement is false. The Current Liabilities section may contain portions of long-term liabilities that are due within the next year, such as the current portion of long-term debt.

All of the Following Statements About Current Liabilities Are True