Question

Current liabilities or non current liabilities

Answer 1

Current Liabilities: Current Liabilities is that liability which is payable within 12 months from the end of the accounting period. Examples of Current Liabilities are creditors, bills payable, short term loans, etc.

Non- Current Liabilities: Non-current liability is that liability which is payable after a period of more than a year from the end of the accounting period. Examples of Non-current liabilities are long term loans debentures, etc.