2 years ago

How do you account for current liabilities and long-term debt?

Mathematics

1 answer:

julsineya [31]2 years ago

3 0

The current portion of the long term liabilities are included in Current Liabilities.

<h3>What are long term liabilities ?</h3>

Long term liabilities are monetary obligations of a company that has to pay after an year.

Current Liabilities are those liabilities which have top be paid in the present financial year .

It includes the short term borrowings , accounts payable , expenses , notes payable etc.

The current portion of the long term liabilities are included in Current Liabilities.

Like the interest of a long term loan of this year is a long term liability in the current year.

To know more about Long term Liabilities

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