Current Liabilities Must Be Paid Either in Cash or with Goods

question 97

True/False

Current liabilities must be paid either in cash or with goods and services within one year or within the entity's operating cycle,if the cycle is longer than a year.

---

Definitions:

Libraries

Collections of sources, resources, and services, and the structures in which they are housed; dedicated to information needs of its users.

Desktops

Personal computers designed for regular use at a single location on or near a desk due to their size and power requirements.

Contacts

Information storage for individuals or organizations, typically including names, phone numbers, and addresses.

Operating System

System software that manages computer hardware, software resources, and provides common services for computer programs.