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

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Fundamentals of Financial Accounting

ISBN: 978-1259269868

5th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

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Question Posted: Jan 17, 2020 02:42 PM

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Define liability. What is 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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