In a classified balance sheet,we categorize all liabilities as current.Liabilities may be classified as either current or long-term.

Name: In a classified balance sheet,we categorize all liabilities as current.Liabilities may be classified as either current or long-term.
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In a classified balance sheet, liabilities are categorized as either current or long-term based on their maturity. Current liabilities are due within one year, while long-term liabilities are due after one year.

In a Classified Balance Sheet,we Categorize All Liabilities as Current