Answer: one year; longer
Explanation:
Current liabilities are those obligations that are payable within one year or the operating cycle whichever is longer.
Current Liabilities are debt that a company owes that are due usually within a year but if the operating cycle of the business is longer then current liabilities will be those owed for the operating cycle.
Examples include; Accounts Payable, Interest payable, Income taxes payable and bank overdrafts.
