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Meaning of “current liability” in the English Dictionary

"current liability" in Business English

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current liabilitynoun [usually plural]

uk   us  
FINANCE a ​payment that a ​company must make within 12 months: If a ​company has ​currentassets of $4 and ​current liabilities of $2, then its ​workingcapital is $2. You ​work out a company's ​liquidity by ​dividing its ​currentassets by its ​current liabilities.
(Definition of current liability from the Cambridge Business English Dictionary © Cambridge University Press)
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