The following items appear on the balance sheet of a company with a two-month operating cycle. identify the proper classification of each item as follows: c if it is a current liability, l if it is a long-term liability, or n if it is not a liability,

payable (due in 13 to 24 months).
payable (due in 6 to 12 months).
payable (mature in five years).
portion of ling-term debt.
payable (due in 120 days).
taxes payable.
receivable.
taxes payable.
payable.
payable.

Current liability refers to a liability which is payable within the duration of one year. On the other hand, long term liability refers to a liability which is payable after the duration of one year.

The classification of each item are as follows:

(1) L - It is payable for more than one year.

(2) C - It is payable within the duration of 12 months.

(3) L - It is mature in five years.

(4) C - It is current liability.

(5) C - Due for less than 365 days.

(6) C - It is a part of current liability

(7) N - It is a part of current assets.

(8) C - Payable within one year

(9) C - Salary is payable for less than one year.

(10) C - Wages is also payable for less than one year.

hi there, i would say your answer is:

b. there is a fixed quantity of resources and technology available.

hope that : )

answer; manager working long hours; plz check i believe this is correct good luck;