Refer to Circuit Citys balance sheet in Appendix A. What does Circuit City title its current liability

Question:

Refer to Circuit City’s in Appendix A. What does Circuit City title its current liability for the purchase of merchandise?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...