Based on your current experience as well as any additional research you may have done, provide two examples of situations where businesses collect monies from customers and employees and report these amounts as a current liability.  

Ashford 5: – Week 4 – Discussion 1

Current   Liability

What is a current liability?  From the perspective of a user of financial statements, why do you believe current liabilities are separated from long-term liabilities?  Based on your current experience as well as any additional research you may have done, provide two examples of situations where businesses collect monies from customers and employees and report these amounts as a current liability.

Guided Response:
Review several of your peers’ posts and identify the core components of a current liability.  Respond to at least two of your peers and provide recommendations to extend their thinking.  Challenge your peers by asking a question that may cause them to reevaluate if their example is a current liability.

Carefully review the Discussion Forum Grading Rubric for the criteria that will be used to evaluate this Discussion Thread.

Respond