19.6k views
1 vote
100 POINTS HELP Which is a source of a current liability?

A. Credit Union
B. Suppliers
C. Bank
D. Mortgage company

User HJW
by
8.0k points

2 Answers

1 vote
B. Suppliers

are a company's short-term financial obligations that are due within one year or within a normal operating cycle.
User Dagorym
by
7.9k points
4 votes

B. Suppliers.

A current liability is a debt or obligation that a company is expected to pay within one year or within its operating cycle, whichever is longer. Suppliers are a common source of current liabilities because a company may purchase goods or services on credit and have to pay the supplier within a short period of time, typically within 30 to 90 days. The other options, such as credit unions, banks, and mortgage companies, are financial institutions that a company may have a relationship with, but they are not sources of current liabilities.

User Itachi Sama
by
8.0k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.