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#analyst-notes #cfa-level-1 #financial-reporting-and-analysis #reading-26-understanding-balance-sheets

Question

Balance sheet component

Obligations that are reasonably expected to be liquidated through the use of current assets within one year or within the operating cycle.

Answer

Current Liabilities

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Subject 1. Components and Format of the Balance Sheet
; Other Assets These vary widely in practice. Examples include deferred charges (long-term pre-paid expenses), non-current receivables, intangible assets, assets in special funds, and advances to subsidiaries. <span>Current Liabilities These are obligations that are reasonably expected to be liquidated either through the use of current assets or the creation of other current liabilities within one year or within the operating cycle, whichever is longer. The excess of total current assets over total current liabilities is referred to as working capital. It represents the net amount of a company's relatively liquid resources

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status	not learned	measured difficulty	37% [default]	last interval [days]
repetition number in this series	0	memorised on		scheduled repetition
scheduled repetition interval		last repetition or drill

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