Which of the following is a typical current liability?
a. Bonds payable
b. Sales taxes payable
c. All of these are typically current liabilities
d. Maturities of notes payable due in more than one year
e. None of these are typically current liabilities

Explanation: In simple words, current liabilities refers to the obligations and promises that an entity has to pay within a year. These liabilities usually arise due to the need of an organisation to fulfill their short term requirements to operate the business efficiently.

These liabilities are of critical in nature as they directly affects the liquidity of the business. In the given case, sales tax payable is the only obligation that must be fulfilled with a year. Hence it is a current liability.

Which of the following is a typical current liability? a. Bonds payable b. Sales taxes payable c. All of these are typically current liabilities d. Maturities of notes payable due in more than one year e. None of these are typically current liabilities

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Which of the following is a typical current liability?
a. Bonds payable
b. Sales taxes payable
c. All of these are typically current liabilities
d. Maturities of notes payable due in more than one year
e. None of these are typically current liabilities