In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

Current liabilities are short-term business debts that are due to be paid before the end of the current fiscal year. These upcoming charges are reported on a company’s balance sheet. Current ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...