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Liabilities represent the amounts the business owes to creditors and fall into two classes. Which of the following are the two classes? A. Valid or

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Liabilities represent the amounts the business owes to creditors and fall into two classes. Which of the following are the two classes? A. Valid or Invalid O B. Recognized or Nonrecognized O C. Current or Long-term D. Payable or Nonpayable

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