Which of the following items are normally classified as current liabilities for a company that has a one-year operating cycle? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)

Sales Tax Payable which are the taxes that the government charges on goods and services and it is the responsibility of business to collect these and remit them to the Government on time. This is a current liability as these are remitted quite frequently.

The FICA social security taxes payable due in 40 days is also a current liability due its time period being less than a year.

A portion of a long term loan due in a month will be considered current also due to its time period.

divyamadaan8054 divyamadaan8054 · Answer 2 · 2022-04-08T14:02:57+02:00

Current liabilities for a company include Sales tax payable, FICA-social security taxes payable due in 40 days and portion of long term note due in 1 month.

What is the term Current Liability about?

Current Liabilities refer to obligations owed in a 12 month period. Anything longer is classified as Long Term.

Sales Tax Payable which are the taxes that the government charges on goods and services and it is the responsibility of business to collect these and remit them to the Government on time

The FICA social security taxes payable due in 40 days is also a current liability due its time period being less than a year.

A portion of a long term loan due in a month will be considered current also due to its time period.

Learn more about Current Liability, refer to the link:

https://brainly.com/question/13388204