A nation's cultural boundaries do not always correspond with its political boundaries

All of the following are characteristics of current liabilities except:

a. They may be replaced with a new short-term liability rather than being paid in cash. b. They may involve estimated amounts. c. They are due within one year or within the operating cycle, whichever is longer. d. All three of the above are characteristic of current liabilities.

In profitability analysis, absolute numbers are more meaningful than relative numbers because the analyst needs to know if one firm earned more dollars than the other

Indicate whether the statement is true or false