Question

Current liabilities are debts that are expected to be satisfied within



a. one year or the normal operating cycle, whichever is shorter.

b. one year or the normal operating cycle, whichever is longer.

c. one year.

d. the normal operating cycle.

Answer 1

Answer:

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Answer 2

Explanation:

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Current liabilities typically are those reported debts that must be satisfied within one year from the balance sheet date. Because a company needs to be able to meet its debts as they come due, analysts pay close attention to this total.