53. Amorrat;on ISI O Of the over useful 0 the process the cost0f natural to an accelerated form of expenstng an asset's cost also called depletlon- 54. O a liability is probabi'e future payment of assets or creamed future wages to be to employees shou;c be recorded as liabilities. for e liability tc be repotted. tt must be present 0Sigatjon that resthsfrom a pasttransoction event and requires a future payment of asses or serqicz. information about liabilities is more useful when the ba\arce sheet identifies frem as either current o- lorgtem. O liabilities car Involve uncertainty In whom to 55. Obllgatlons to be pajci wlthjn one year or the company's operating cycle, whichever longer, are: O current assets. O current liabllltles- O earned revenues. O operating cycle liabilities. O bills- 21