| Current Liability |
Article Index for Current |
Website Links For Current |
Information AboutCurrent Liability |
| CATEGORIES ABOUT CURRENT LIABILITY | |
| generally accepted accounting principles | |
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For example accounts payable for goods, services or supplies that were purchased for use in the operation of the business and payable within a normal period of time would be current liabilities. Bonds , Mortgages and Loans that are payable over a term exceeding one year would be Fixed Liabilities . However the payments due on the long-term loans in the current fiscal year could be considered current liabilities if the amount were material. The proper classification of liabilities is essential when considering a true picture of an organization's fiscal health. |
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