Debts listed as current liabilities are those that

A) will be paid in less than one year
B) are due to be paid in 5 to 10 years
C) are due to be paid in more than one year
D) are owed to the owner and will never be paid

Question

Naomi Ojokojo · Accepted Answer

Final Answer : A, Explanation :  Current liabilities are debts that are expected to be paid off within one year or one operating cycle (whichever is longer). Therefore, choice A is correct as it states that the debts will be paid in less than one year. Choices B, C, and D are incorrect as they do not meet the definition of current liabilities.

Debts listed as current liabilities are those that

A) will be paid in less than one year
B) are due to be paid in 5 to 10 years
C) are due to be paid in more than one year
D) are owed to the owner and will never be paid

Definitions

Learning Objectives

Learning Objectives

Related questions

Debts listed as current liabilities are those thatA) will be paid in less than one yearB) are due to be paid in 5 to 10 yearsC) are due to be paid in more than one yearD) are owed to the owner and will never be paid

Definitions

Learning Objectives

Learning Objectives

Related questions

Debts listed as current liabilities are those that

A) will be paid in less than one year
B) are due to be paid in 5 to 10 years
C) are due to be paid in more than one year
D) are owed to the owner and will never be paid