A Current Liability Is Defined As

question 94

Multiple Choice

A current liability is defined as:

• A)An amount borrowed less than one year ago.
• B)An amount due to an employee.
• C)An amount due within one year.

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Definitions:

International Sale of Goods

Transactions involving the sale of goods between parties residing in different countries.

Finance Corporation

An organization, typically a company, devoted to managing, investing, or lending money to individuals or other companies.

Account Party

Account Party is a key term in banking and finance, denoting the party that requests and is obligated to reimburse the issuer of a letter of credit upon completion of terms.

Express Warranty

A seller’s or lessor’s oral or written promise, ancillary to an underlying sales or lease agreement, as to the quality, description, or performance of the goods being sold or leased.