Examlex
Which of the following is a chemical change?
Long-Term Liabilities
These are obligations or debts that are due to be paid out beyond one year in the future.
Current Liability
A liability that must be paid off within one year or the standard operating cycle of the company, whichever period is greater.
One Year
A period of twelve consecutive months used as a standard measure of time for accounting, budgeting, and financial reporting.
Operating Cycle
The duration of time it takes for a business to buy inventory, sell it to customers, and collect the cash from the sales.
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