Current Liability
Subject: Accounting | Topics:

Current Liability is a companys debts or obligations which can be due within one year. Current liabilities appear around the company’s balance sheet including short term debts, accounts payable, accrued liabilities as well as other debts. In data processing, current liability is usually understood as all liabilities on the business that have to be settled in cash inside fiscal year or the operating cycle of the given firm, whichever period is extended.

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