Liabilities fall into two categories: current and non-current liabilities. 1. Current Liabilities: This consist of liability, which are due for settlement within one calendar year. Examples include: i.) Accounts Payable: This refers to the sum which is owed to suppliers for acquiring goods or services. ii.) Short-term loans: This refers to the amount loaned to be repaid within a ye... https://finxl.in/fbs-mba-in-finance.html