Current liabilities are debts of the business that must be paid within a short period of time (by convention, within one year).
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Banl loans and bank overdrafts are both current liabilities which must eventually be repaid to the bank.
A. 对
B. 错
Trade payables are liabilities to pay for goods or service that have been received and invoiced from supplier with the agreed timing and amount and for which there was not a promissory note.
A. 对
B. 错
Examples of other payables include liabilities to pay wages and salaries, amounts due to the tax office for payroll taxes and sales tax, payable for items with non-trade purpose etc.
A. 对
B. 错
A business purchased equipment by issuing a one-year note. Recording the transaction requires an asset to be debited and long-term liability to be credited.
A. 对
B. 错