Question

Liabilities are generally classified on a balance sheet as__________________.a. tangible liabilities and intangible liabilities.b. current liabilities and long-term liabilities.c. small liabilities and large liabilities.d. present liabilities and future liabilities.

Answer 1

Option B

Liabilities are generally classified on a balance sheet as current liabilities and long-term liabilities

Explanation:

Liabilities are essential features of a company because they are employed to finance services and finance for large developments.  Liabilities are resolved over time by the transference of economic advantages including cash, assets, or help. Listed on the right side of the balance sheet.

The most basic liabilities are normally the most abundant like accounts payable and bonds payable. Most firms will have those two line items on their balance sheet, as they are a member of continuous current and long-term operations.