A liability due in one year.
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Any liability with a term of greater than a year. In both investing and personal finance, an example of a noncurrent liability often is a loan with a payback period of longer than one year. Examples include a 30-year mortgage or a 10-year Treasury note. See also: Long-term financing.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
A liability not due to be paid within one year during the normal course of business. A long-term debt issue is a noncurrent liability.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.