are current items and long term items on both sides of the balance sheet. Which of the following describe the differences between current and long-term? Current Assets and Current Liabilities are assets and claims that will be paid or received within one year Long Term Assets and Liabilities are expected to be used or paid off more than one year Current Assets and Long Term Assets are assets that will be paid or received within one year Current Liabilities and Long Term Liabilties are expected to be paid off more than one year Current Assets and Long Term Liabilites will be paid or received within one year Current Liabilities and Long Term Assets are expected to be paid or utilized more than one year Long Term Liabilites will be paid more than one year, but less than Current Assets Current Liabilities are expected to be paid or utilized more than one year, but more than Long Term Assets