What are the major differences between current and long-term liabilities? Which one is more important, why and why not? -Define accrued liabilities

Accounting Nov 10, 2020

What are the major differences between current and long-term liabilities? Which one is more important, why and why not?
-Define accrued liabilities. Use account examples to illustrate your points.
-How to report current liabilities for those accounts that need not pay interests whereas those interests must be paid? If you are a manager, how are you going to take advantage of these accounts?