Answered

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Current liabilities are liabilities not due within one year (or the company's operating cycle if longer).

A. True
B. False

Sagot :

GinnyAnswer

Final answer:

Current and long-term liabilities are distinct financial obligations with different time horizons for repayment, impacting an organization's financial standing.


Explanation:

Current liabilities are debts that a company expects to settle within one year or its operating cycle if longer. These include accounts payable, accrued expenses, and unearned revenue.

Long-term liabilities are obligations due beyond the current fiscal year, such as bonds payable or pension liabilities.

Understanding liabilities is crucial for assessing an organization's financial health and solvency.


Learn more about Current and long-term liabilities here:

https://brainly.com/question/40225013


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