Asked by danica javier on May 01, 2024
Verified
A current liability is a debt that can be expected to be paid within ______________ year or the ______________ whichever is longer.
Current Liability
A liability that must be paid off within one year or the standard operating cycle of the company, whichever period is greater.
One Year
A period of twelve consecutive months used as a standard measure of time for accounting, budgeting, and financial reporting.
Operating Cycle
The duration of time it takes for a business to buy inventory, sell it to customers, and collect the cash from the sales.
- Familiarize oneself with the sorting and ramifications of employer payroll taxes and responsibilities.
Verified Answer
ZK
Learning Objectives
- Familiarize oneself with the sorting and ramifications of employer payroll taxes and responsibilities.