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Which of the following are more widely used?
Current Liability
A company's debts or obligations that are due within one year, including accounts payable, short-term loans, and taxes payable.
Warranty Liability
The obligation a company assumes when it guarantees the condition of its product and agrees to repair or replace defective products.
FICA Taxes Payable
Liabilities owed by an employer to the federal government for Federal Insurance Contributions Act taxes, typically for Social Security and Medicare.
Current Liabilities
Obligations or debts that a company is expected to pay within one year or within the normal operating cycle of the business, typically including accounts payable and short-term loans.
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