Current Liabilities

Current Liabilities means:
the debts incurred by the reporting entity as part of normal operations and expected to be repaid during the following 12 months. Examples are accounts payable, short-term loans, and the portion of long-term loans that is due in 1 year.

Description and Definition of Current Liabilities

Liabilities, such as taxes, to be paid in a relatively short time, usually one year.

Resources

See Also

Further Reading

• Current Liabilities in the West's Tax Law Dictionary
• Current Liabilities in “A Dictionary of Taxation”