Question

Is outstanding legal charges asset or liability?

Answer 1

Answer:

$Legal unpaid obligations due within a year will be classified as currentliability. Usually, they appear as accrued legal liability or similar. Also, many times if the expenses were incurred during the financial period but not yet billed, they are classified as accrued legal liability.$

Answer 2

Explanation:

Legal unpaid obligations due within a year will be classified as current liability. Usually, they appear as accrued legal liability or similar. Also, many times if the expenses were incurred during the financial period but not yet billed, they are classified as accrued legal liability.

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