Question

WHAT IS LIABILITY?WHAT IS NON CURRENT LIABILITY AND CURRENT LIABILITY?

Answer 1

Answer:

Difference between current and noncurrent liabilities:

Current liabilities are those liabilities which are to be settled within one financial year. Noncurrent liabilities are those liabilities which are not likely to be settled within one financial year.

Answer 2

Answer:

Current liabilities are those liabilities which are to be settled within one financial year. Noncurrent liabilities are those liabilities which are not likely to be settled within one financial year.

Explanation:

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