Which of the following statements is correct as it relates to the characteristics of a liability?

Muitiple Choice

A current liability is recorded at the point in time when an abligation exists that has the potential to require a transfer of assets upon settlement within $60-90$ days of the bolance sheet date, or within the company's operating cycle, whichever is sharter

A current llability is recorded ot the point in time when an obligation exists that hos the potential to require a transfer of assets upon settiement within one year of the balance sheet date, or within the company's operating cycle, whichever as shorter

A liability is recorded ot the point in time when en abligatian exists thet has the porentisi to require s transfer af assets upon settlement ond will not impect the working capinol rotio