Define: Current Liability

UK Accounting Glossary

Definition: Current Liability


Quick Summary of Current Liability


A liability which satisfies any of the following criteria: (a) it is expected to be settled in the entity’s normal operating cycle; (b) it is held primarily for the purpose of being traded; (c) it is due to be settled within 12 months after the balance sheet date.


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What is the dictionary definition of Current Liability?

Dictionary Definition



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Full Definition of Current Liability



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Current Liability FAQ's



Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/current-liability/
Modern Language Association (MLA):
Current Liability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. November 13, 2019 https://payrollheaven.com/define/current-liability/.
Chicago Manual of Style (CMS):
Current Liability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/current-liability/ (accessed: November 13, 2019).
American Psychological Association (APA):
Current Liability. PayrollHeaven.com. Retrieved November 13, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/current-liability/

Definition Sources


Definitions for Current Liability are sourced/syndicated from:


This glossary post was last updated: 23rd December 2018.