The nature of liability (Current or Long Term) in each situation. Current Liability and Long Term Liability: The factor to be considered while determining the nature of a liability i.e., current or long term is the period within which the said liability is due for payment.

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Chapter 11, Problem S11.1SE

To determine

The nature of liability (Current or Long Term) in each situation.

Current Liability and Long Term Liability:

The factor to be considered while determining the nature of a liability i.e., current or long term is the period within which the said liability is due for payment.

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