Bills That Are to Be Paid Off Within a Year

question 55

Multiple Choice

Bills that are to be paid off within a year are called

• A)short-term liabilities.
• B)one-year liabilities.
• C)current liabilities.
• D)insignificant bills.

---

Definitions:

Untrue Assertion Of Fact

The act of presenting a false statement as true, which can lead to legal ramifications if it causes harm.

Misrepresentation And Fraud

Deceptive practices that involve providing false information or concealing the truth to induce another to act to their detriment.

Existing Fact

A fact that is already in existence and can influence a contract's formation, interpretation, or execution.

Past Fact

Information or events that have already occurred and are considered in the making of decisions or judgment.