Question

In the context of financial statements, _____ are debts that come due within a year of the date on the balance sheet.

Answer 1

Current liabilities are debts that come due within a year of the date on the balance sheet.

Step-by-step explanation:

In the context of financial statements, current liabilities are debts that come due within a year of the date on the balance sheet. Current liabilities are short-term obligations that a company must settle within the next 12 months. Examples of current liabilities include accounts payable, short-term loans, and accrued expenses.