Current liabilities are amounts that must be paid within a short period of time, usually less than a year.

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Current liabilities are defined as debts and obligations that are due and payable within one year or within a normal operating cycle of a business, whichever is longer. Examples of current liabilities include accounts payable, salaries and wages payable, taxes payable, and short-term loans.

Current Liabilities Are Amounts That Must Be Paid Within a Short