If your school has a subscription to the FASB Codification, go to aaahq.org/ asclogin.cfm to log in

Question:

If your school has a subscription to the FASB Codification, go to aaahq.org/ asclogin.cfm to log in and prepare responses to the following.
(a) What is the definition of current liabilities?
(b) What is the long-term obligation?
(c) What guidance does the Codification provide for the disclosure of long-term obligations?