BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Current liabilities are short-term debts. There are many types of current liabilities, from accounts payable to dividends declared or payable. These debts typically become due within one year and are paid from company revenues.

Detailed explanation-2: -Current liabilities are a company’s short-term financial obligations that are due within one year or within a normal operating cycle. Current liabilities are typically settled using current assets, which are assets that are used up within one year.

Detailed explanation-3: -Current liabilities (also called short-term liabilities) are debts a company must pay within a normal operating cycle, usually less than 12 months (as opposed to long-term liabilities, which are payable beyond 12 months).

Detailed explanation-4: -Which of the following statements is true about current liabilities? Current liabilities are obligations payable within one year or within the firm’s operating cycle, whichever is longer.