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      Question

      The debts which are to be repaid within a short period

      (a year or less) are referred to as: I. Current Liabilities II. Fixed liabilities III. Contingent liabilities
      A Only I Correct Answer Incorrect Answer
      B Only II Correct Answer Incorrect Answer
      C Only III Correct Answer Incorrect Answer
      D All I, II and III Correct Answer Incorrect Answer

      Solution

      The correct answer is A

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