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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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