Current Liabilities: Current liabilities are those obligations for the company which it is supposed to pay within a year or within the same accounting period, whichever is longer. They include accounts payable, wages, salaries to employees, interest payable and so on.
Current Assets: Current assets are those classifications of assets that can be converted to cash within one year or within one operating cycle, whichever is longer, for example,
To Identify: The current liabilities of A Company using its annual report and also to identify whether the current liabilities are higher or lower than the current assets for the given two years.
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