Current Attempt in Progress

Which of the following is a characteristic of a current liability but not a long$-$term liability?

Its liquidation is reasonably expected to require the use of existing resources classified as current assets or create other

current liabilities.

It is an unavoidable obligation.

It is a present obligation that entails settlement by probable future transfer or use of cash, goods, or services.

The transaction or other event creating the liability has already occurred.