Fill in the Blank Question Liabilities that will be paid or fulfilled within 12 months are \( \square \) liabilities. (Enter only one word per blank.)

Current liabilities are obligations that a company expects to settle within a year, such as accounts payable, short-term loans, and other debts that need to be cleared. These liabilities are crucial for financial liquidity, reflecting how a company manages its short-term obligations. Understanding current liabilities helps you gauge a company's financial health. Investors and managers often assess this to ensure there are sufficient assets to cover these obligations, ultimately influencing decisions on investments and operational strategies.