A Current Liability Is Defined as a Commitment or Obligation

question 95

Multiple Choice

A current liability is defined as a commitment or obligation which requires a company to transfer assets, create a new current liability, or provide services to another entity at some point in the future that must occur

• A)within one year.
• B)within one year or within the operating cycle, whichever is shorter.
• C)within one year or within the operating cycle, whichever is longer.
• D)by the end of the operating cycle.

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Definitions:

Target Market

A specific group of potential customers at whom a company aims its products and services.

Post-it Flag Highlighter

A stationery tool that combines the features of a highlighter and removable page markers for annotating and marking important information in documents.

Product Line

A group of related products marketed by the same company that function in a similar manner, are sold to the same customer groups, and marketed through the same types of outlets.

Marketing Concept

A business philosophy suggesting that to achieve organizational goals, a company must anticipate and satisfy customers' needs and wants better than its competitors.