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Obligations due to be paid within one year or within the compnay’s operating cycle, whichever is longer, are: Current assets Current liabilities Earned revenues Operating cycle liabilities Bills
Obligations due to be paid within one year or within the compnay’s operating cycle, whichever is longer, are:
-
- Current assets
- Current liabilities
- Earned revenues
- Operating cycle liabilities
- Bills
Expert Solution
Answer:
B .
Step-by-Step explanation
Current Liabilities are the short term liabilities. There are to be paid within a year or an operating cycle, whichever is longer. Current Liabilities are recorded on the credit side of the balance sheet under the liabilities section.
Some of the current liabilities are accounts payable, wages payable, salary payable, dividend payable, unearned revenue etc.
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