Discussion 3 of 1and 2
What is the difference between a current liability and a long-term liability?
What is the difference between a current liability and a long-term liability? Why does accounting require the separating of these items on the balance sheet? What would be the result if all liabilities were recorded under one title?
Requirement: 250 words minimum initial post, 100 words minimum reply
Question 2
Prompt: Why is the “Matching Principle” so important in accounting? Discuss its purpose and how it is used in accounting.
Requirement: 250 words minimum initial post, 100 words minimum reply
Answer preview what is the difference between a current liability and a long-term liability?
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