Answer:
The correct answer is TRUE
Explanation:
Liabilities are the amounts of money due to others that need to be paid now.
Current liabilities are those that need to be paid in full within a short period of time (say less than one year).
Long-term liabilities are those that do not need to be paid in full for a longer period of time (more than one year).
I also just took the test, and TRUE is 100% correct.
