Define liability what is the difference between a current, Accounting Basics

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Define liability what is the difference between a current

Question: 1. Define liability. What is the difference between a current liability and a long-term liability?

2. What three factors influence the dollar amount reported for liabilities?

3. What is the current ratio? How is it related to the classification of liabilities?

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Accounting Basics: Define liability what is the difference between a current

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