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LSDefine

Simple English definitions for legal terms

current liability

Read a random definition: parliamentary motion

A quick definition of current liability:

Current liability: A current liability is a type of debt that a company owes and needs to pay back within one year. This can include things like money owed to suppliers, short-term loans, money owed to shareholders, and taxes that need to be paid. Basically, it's money that a company needs to pay back soon.

A more thorough explanation:

A current liability is a financial obligation that a company is expected to pay off within one year. These are debts or obligations that are due in the short term, usually within the next 12 months.

Examples of current liabilities include:

  • Accounts payable: Money owed to suppliers or vendors for goods or services received but not yet paid for.
  • Short-term debt: Loans or other debts that are due within the next year.
  • Dividends: Payments to shareholders that are due within the next year.
  • Income tax: Taxes owed to the government for the current year.

These examples illustrate the definition of current liabilities because they are all debts or obligations that a company is expected to pay off within a short period of time, usually within the next year. Companies need to keep track of their current liabilities to ensure that they have enough cash on hand to pay off these debts when they become due.

current asset | current monthly income

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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