short-term loan taken from Bank is a __________ liability
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Answer:
Current liability
Explanation:
Short-term debt, also called current liabilities, is a firm's financial obligations that are expected to be paid off within a year.
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QUESTION:
short-term loan taken from Bank is a __________ liability
ANSWER:
A short-term loan is categorized as a current liability whereas a long-term loan is capitalized and classified as a long-term liability.
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