Current liabilities: Obligations due in one year or less

Examples:

Accounts payable: Cash owed to others

Income tax payable: Tax owed to government

Dividends payable: Dividends owed to shareholders

Accrued liabilities: Expenses incurred, not recorded

Current portion of long-term debt: Portion of debt due in less than a year

 

I_2F_Current_liabilities

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