Question Details

A current liability is a debt that can be expected to be paid within 



1.	A current liability is a debt that can be expected to be paid within ______________ year or the ______________, whichever is longer.


	2.	Liabilities are classified on the statement of financial position as being _______________ liabilities or ______________ liabilities.


	3.	Obligations in written form are called ______________ and usually require the borrower to pay interest.


	4.	With an interest-bearing note, a borrower must pay the ________________ of the note plus _________________ at maturity.


5.	Sales taxes collected from customers are a ______________ of the business until they are remitted to the taxing agency



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