An Example of a Current Liability Is a Note Payable

question 173

True/False

An example of a current liability is a note payable that is due in 2 years.

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Definitions:

Development

The process of growth or progress, often involving changes in physical, cognitive, or emotional capacities over time.

Alcoholic

A person who suffers from alcoholism, which is an addiction to the consumption of alcoholic liquor or the mental illness and compulsive behavior resulting from alcohol dependency.

Retarded Development

Retarded development refers to significantly delayed physical or mental growth and development, potentially due to genetic, environmental, or other factors.

Smallpox

A contagious, disfiguring, and often deadly disease that has been eradicated globally thanks to vaccination.