Ask Question
6 February, 10:29

Which of the following is a characteristic of a current liability?

A current liability is due within one year or one operating cycle, whichever is longer.

A current liability must be of a known amount.

A current liability must be of an estimated amount.

Current liabilities are subtracted from long-term liabilities on the balance sheet.

+2
Answers (1)
  1. 6 February, 14:26
    0
    Hey Friend.

    A is the answer.

    Current liability represent debts that will be repaid within a year. e. g. Accounts payable (creditor), bank overdraft, expenses owing, prepaid revenue.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following is a characteristic of a current liability? A current liability is due within one year or one operating cycle, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers