Commonly,current liabilities are payable within one year,and long-term liabilities are payable more than one year from now.

Name: Commonly,current liabilities are payable within one year,and long-term liabilities are payable more than one year from now.
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This is the standard definition of current and long-term liabilities in accounting. Current liabilities are expected to be paid within one year, while long-term liabilities have a repayment term of more than one year.

Commonly,current Liabilities Are Payable Within One Year,and Long-Term Liabilities Are