Discussion 3 of 1and 2

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?

APA

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