Current liability: Current liability is a liability which is paid with the help of current assets. It is a financial obligation which is payable within a year. Current liabilities are considered as short term liability. To List: The typical asset categories included in this classification.

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Chapter 3, Problem 3.4Q

To determine

Current liability:

Current liability is a liability which is paid with the help of current assets. It is a financial obligation which is payable within a year. Current liabilities are considered as short term liability.

To List: The typical asset categories included in this classification.

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