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    College Accounting Study Set 5
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    Exam 15: Financial Statements and Year-End Accounting for a Merchandising Business
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    Current Liabilities Are Those Obligations That Are Due Within One
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Current Liabilities Are Those Obligations That Are Due Within One

Question 49

Question 49

True/False

Current liabilities are those obligations that are due within one year or the normal operating cycle of the business, whichever is longer, and which will require use of current assets.

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