Debts That Are Due to Be Paid Within One Year

question 61

Multiple Choice

Debts that are due to be paid within one year or within the company's operating cycle are called

• A) liquid liabilities.
• B) current liabilities.
• C) quick liabilities.
• D) deferred liabilities.
• E) long-term liabilities.

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Definitions:

Organizational Buyers

Those who make purchasing decisions on behalf of a company or organization, often including considerations like bulk buying, contractual negotiations, and supplier relationships.

Nondurable Good

Products that are consumed or are only usable for a short period before they are depleted or become unusable.

Product Development

The comprehensive process of bringing a new product or service to market, from idea generation to commercialization.

Nondurable Good

A product that is consumed or has a lifespan significantly shorter than three years, such as food products, fuel, or cleaning supplies.