The loans which are to be repaid within a short period (a year or less) are referred to as:O a. Fixed liabilitiesO b. Long-term liabilitiesO c. Contingent liabilitiesO d. Current Liabilities

Ans. Liabilities can be of many types - i. Current Liabilities ii. Non-current Liabilities iii.…

Answered: ne loans which are to be repaid within…

ne loans which are to be repaid within a short O a. Fixed liabilities b. Long-term liabilities C. Contingent liabilities

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 4DQ

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