current liability
US /ˈkɜːrənt laɪəˈbɪlɪti/
UK /ˈkɜːrənt laɪəˈbɪlɪti/
1.
a liability that must be paid or settled within one year or one operating cycle, whichever is longer
:
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Accounts payable and short-term loans are common examples of current liabilities.
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The company's balance sheet showed a significant increase in current liabilities due to new short-term debt.