Accountancy, asked by ajits9120, 1 month ago

Basic TERMS liability​

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Answered by suthark95619
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Answer:

Current liabilities (short-term liabilities) are liabilities that are due and payable within one year. Non-current liabilities (long-term liabilities) are liabilities that are due after a year or more. Contingent liabilities are liabilities that may or may not arise, depending on a certain event.

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