ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 293

c. Current liabilities can't exceed the amount incurred in one operating cycle. d. There is no relationship between the two. 37. What is the relationship between present value and the concept of a liability? a. Present values are used to measure certain liabilities. b. Present values are not used to measure liabilities.