current liability


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Current Liabilities

On a balance sheet, any liability expected to be paid off in one year or less. Common examples of current liabilities are short-term bills and accounts payable.

current liability

A debt due within a year. Current liabilities include accounts payable, short-term loans from financial institutions, current maturities of long-term debt, dividends declared but not paid, and expenses incurred but not paid. Current liabilities are generally met using current assets.
References in periodicals archive ?
Southwest Airlines has a significant current liability in the form of unearned ticket revenue from customers paying in advance of flights.
If the premise is accepted that CPLTD is repaid from CPFA and not from current assets, it must follow that the current ratio is flawed by including CPLTD as a current liability that must be paid from current assets.
412 (1) establishes funding requirements for certain under-funded defined-benefit plans, generally based on a plan's unfunded current liability. In determining current liability, plans must use the mortality table prescribed by the Service.
The primary differences between the new legislation and current law are that plans would be required to fund to a target of 100% of current liability and the shortfall between current liability and assets would be amortized over 7 years.
It said current liability provisions might discourage some companies from doing business with the government and force others to increase prices to account for the uncertain risk.
With this new release, users easily can view their current liability (i.e.
About half of respondents to an AMA survey said the current liability, environment will affect their specialty choice and 39% said it is a factor in choosing a state in which to complete specialty, including ob.gyn., say they are very or somewhat familiar with the medical liability situation.
About half of respondents to an AMA survey said the current liability environment will affect their specialty choice and 39% said it is a factor in choosing a state in which to complete their residency training.
Unfortunately, the current liability system has failed patients.
This report provides information on (1) what characteristics of an interest rate make it suitable for determining current liability and lump-sum amounts; (2) what alternatives to the current rate might be considered; and (3) how using an alternative rate might affect plan participants, employers, and the Pension Benefit Guaranty Corporation (PBGC).
"Our debt agreements expire in September and November 2003, which is why most of our debt is classified as a current liability." Amcast sustained a net loss of $53.7 million in the first quarter 2002.
Taxes payable for the current year are classified as a current liability on the balance sheet; and

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