Current liability

In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer. A more complete definition is that current liabilities are obligations that will be settled by current assets or by the creation of new current liabilities.

What Is a Financial Option? The Complete Beginner’s Guide to Financial Options

If you lack a foundation of financial accounting and want to start from scratch, you can consult my book:

enlightened-accountant-ebook

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