Q5
The debts which are to be repaid within a short period (year or less) are known as
A.
Current liabilities
AnswerB.
Fixed liabilities
C.
Contingent liabilities
D.
All of the above
Answer: Option A
Solution
Answer: Option A
Solution:
The debts which are to be repaid within a short period (year or less) are known as Current liabilities. Current liabilities are a company's debts or obligations that are due within one year or within a normal operating cycle.