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

Asked by maham237 @ in Business viewed by 334 People

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.

Answered by maham237 @


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.


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