Which of the following is an example of a current liability?

Amounts owed for goods received is considered a current liability because it represents an obligation that the company is expected to settle within one year or within its operating cycle, whichever is longer. Current liabilities typically include short-term obligations that are due to be paid in cash, goods, or services within a short time frame. This reflects the short-term financial obligations a company must manage in its daily operations, making it crucial for assessing liquidity and financial health.

In contrast, long-term loan agreements are classified as non-current liabilities since they extend beyond one year. Intangible assets and land owned for investment are part of the asset side of the balance sheet, not liabilities. Understanding the classification of liabilities helps in financial analysis and provides insights into a company's operational efficiency and financial stability.