Which of the following is a characteristic of a current liability but not a long-term liability?
a. Unavoidable obligation.
b. Present obligation that entails settlement by probable future transfer or use of cash, goods, or services.
c. Liquidation is reasonably expected to require use of existing resources classified as current assets or create other current liabilities.
d. Transaction or other event creating the liability has already occurred.
Answer: Liquidation is reasonably expected to require use of existing resources classified as current assets or create other current liabilities
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.