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Maverick, Attorney
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Experience:  20 years experience as a civil trial and appellate lawyer
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What is a current liability What is a non current liability

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What is a current liability? What is a non current liability? What is the difference between the two types? In which financial statement would you find these liabilities?

Current liabilities are a balance sheet item that reflects the total sum of all money owed and due by a company within one year. For example, accounts payable and short term loans fall into this category.


Non current liabilities are also found on the balance sheet and reflect debts that are not required to be satisfied in the within 12 months. These are long term debts like bonds.



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