Define liability. Whats the difference between a current liability and a long-term liability?

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Define liability. What’s the difference between a current liability and a long-term liability?

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Fundamentals of Financial Accounting

ISBN: 978-0078025914

5th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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Question Posted: Nov 02, 2015 05:55 AM

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Define liability. Whats the difference between a current liability and a long-term liability?

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Liabilities are obligations that result from transactions that require future payment of assets ...View the full answer

Fundamentals of Financial Accounting

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