short-term debts covering things such as trade creditors, short-term loans and bank overdraft.

Liability that will normally be repaid within one (1) year.

a debt a company has agreed to pay within one year such as accounts payable and accrued expenses payable (e

Liability expected to be liquidated in a year. - Debit - Entry recording an increase to an asset or expense or a reduction to a liability, revenue or owner’s equity. Debits are recorded in the left-hand column of an account or a two-column book. Opposite of credit.

A current liability is a debt owed by the company, for example, creditors, accruals or an overdraft that will be cleared in the short term. Click here to go back to the top of the page

Amount coming due within a year; for example, accounts payable.

A liability that is expected to be paid out within one year.

An obligation that will be satisfied within one year.

Amount owed for salaries, interest, accounts payable and other debts due within 1 year.

An obligation expected to be paid or met by the use of current assets, often used to refer to obligations to be settled within one year. Current liabilities typically include short-term notes payable, accounts payable, salaries and wages payable, income taxes payable, payroll taxes payable, accrued expenses, and that portion of long-term debt payable within one year.

Obligation whose LIQUIDATION is expected to require the use of existing resources classified as CURRENT ASSETS, or the creation of other current liabilities.

Liability that will normally be repaid within a year.

An obligation of a corporation payable within one year or one operating cycle whichever is longer.

A liability that has to be paid within 12 months.

Liability that must be paid within the normal operating cycle

In accounting, current liabilities are considered liabilities of the business that are to be settled in cash within the fiscal year.