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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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