Question

Current liabilities are: A) those liabilities due for payment within a year. B) everything owed to creditors. C) everything of value owned by the company. D) those liabilities that represent the excess over all assets.

Answer 1

A) those liabilities due for payment within a year.

Current liabilities are financial obligations that a company is expected to settle within one year or one operating cycle, whichever is longer. These typically include items like accounts payable, short-term loans, accrued expenses, and other debts that are due for payment in the short term.

Step-by-step explanation: