a liability shall be a current liability
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Accounts payable. These are the trade payables due to suppliers, usually as evidenced by supplier invoices.
Sales taxes payable. ...
Payroll taxes payable. ...
Income taxes payable. ...
Interest payable. ...
Bank account overdrafts. ...
Accrued expenses. ...
Customer deposits.
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A current liability is one expected to be satisfied or met within one year or the normal operating cycle, whichever is longer. ... A current liability is one expected to be satisfied or met within one year or the normal operating cycle, whichever is longer.
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