current liability


Current Liabilities

On a balance sheet, any liability expected to be paid off in one year or less. Common examples of current liabilities are short-term bills and accounts payable.

current liability

A debt due within a year. Current liabilities include accounts payable, short-term loans from financial institutions, current maturities of long-term debt, dividends declared but not paid, and expenses incurred but not paid. Current liabilities are generally met using current assets.