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    Carolyn A.
    US
    Carolyn A.

    Good

    Zachary B.
    US
    Zachary B.

    What are current liabilities?

    Wantrecia P.
    US
    Wantrecia P.

    All current liabilites supposed to be updated

    Benjamin Alex M.
    PG
    Benjamin Alex M.

    Amounts due to be paid to other companies for the goods and services provided or other necessary incured cost .

    Benjamin Alex M.
    PG
    Benjamin Alex M.

    What do we mean by current liabilities in business term?

    ABDURRASHID I.
    NG
    ABDURRASHID I.

    What are current liabilities?

    Anita D.
    BS
    Anita D.

    Jan 1st, 2015, VAT was introduced, all companies collect 7.5 % tax on behalf of the state. Say company ABC has total sales price of $100,000 cash, what is the tax amount payable to the state? Which journal accounts will be debited and credited?

    Shekar T.
    IN
    Shekar T.

    amounts due to be paid to creditors within twelve months

    Nazrin R.
    ZA
    Nazrin R.

    Whatever the company may owe presently

    Veronica B.
    AU
    Veronica B.

    A company's debts or obligations that are due within one year. Current liabilities appear on the company's balance sheet and include short term debt, accounts payable, accrued liabilities and other debts. Essentially, these are bills that are due to creditors and suppliers within a short period of time. Normally, companies withdraw or cash current assets in order to pay their current liabilities. Analysts and creditors will often use the current ratio, (which divides current assets by liabilities), or the quick ratio, (which divides current assets minus inventories by current liabilities), to determine whether a company has the ability to pay off its current liabilities.

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