A Current Liability Account is an account under which all the debt should be paid off within a certain period. In general, this period is not more than 12 months. For example, notes payable, short-term loans, accrued expenses, etc.
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A Current Liability Account is an account under which all the debt should be paid off within a certain period. In general, this period is not more than 12 months. For example, notes payable, short-term loans, accrued expenses, etc.