Which of the Following Is a Characteristic of a Current

question 130

Multiple Choice

Which of the following is a characteristic of a current liability?

• A)It is due within one year or one operating cycle, whichever is longer.
• B)It is due within five years or five accounting periods, whichever is longer.
• C)It is due within five years or five accounting periods, whichever is shorter.
• D)It is due within one year or one operating cycle, whichever is shorter.

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Definitions:

Peck

A unit of volume for dry goods, historically used in agriculture and equal to about 8.809 or 9 liters in the US and UK respectively.

Bushel

A unit of volume that is used for measuring agricultural commodities, varying in actual volume by the product being measured.

Consumption

The use of goods and services by households or individuals for personal satisfaction or to fulfill needs.

Mercedes

A German global automobile marque known for luxury vehicles, buses, coaches, and trucks.