Question

meaning of fixed liabilities and current liabilities​

Answer 1

Answer:

A fixed liabilities are a debts. bonds, mortgages or loans that are payable over a term exceeding one year. These debts are better known as non-current liabilities or long-term liabilities. Debts or liabilities due within one year are known as current liabilities.

Answer 2

Answer:

A fixed liabilities are a debts. bonds, mortgages or loans that are payable over a term exceeding one year. These debts are better known as non-current liabilities or long-term liabilities.  Debts or liabilities due within one year are known as current liabilities.

In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer