Question

Explain the term Current Liability.

Answer 1

current liability means amounts due to be paid to creditors within twelve months.

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Answer 2

Hola!

Current liabilities are a company's debts or obligations that are due within one year or within a normal operating cycle. ... Current liabilities appear on a company's balance sheet and include short-term debt, accounts payable, accrued liabilities, and other similar debts.