Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 24 - No. 37)
Which of the following is a characteristic of a 'Current Liability'?
It is expected to be paid within one year or the operating cycle.
It is due more than one year from the balance sheet date.
It represents an investment in another company.
It will be used to generate revenue.
Explanation
Current liabilities are obligations that are due within one year or the operating cycle, whichever is longer.
Comments (0)
