Accountancy, asked by Ajith1235, 1 month ago

differentiate fixed liabilities and current liabilities

Answers

Answered by poojadb2020

Explanation:

Current liabilities are obligations that fall due within the coming year (or within one operating cycle, if longer than a year). ... Fixed liabilities are only bank loans that fall due beyond 1 year from the balance sheet date, or beyond the operating cycle (if longer than 1 year).

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