Accounting for Gift Cards

What are examples of current liabilities? Examples of current liabilities include accounts payable, short-term debt, dividends, and notes payable as well as income taxes owed.What are current liabilities on balance sheet? The current liabilities section of a balance sheet shows the debts a company owes that must be paid within one year. These debts are the opposite of current assets, which are often used to pay for them.What is current liabilities and non current liabilities? Current liabilities (short-term liabilities) are liabilities that are due and payable within one year. Non-current liabilities (long-term liabilities) are liabilities that are due after a year or more. Contingent liabilities are liabilities that may or may not arise, depending on a certain event.What is the correct definition of current liabilities? Definition: A current liability is an obligation that must be repaid within the current period or the next year whatever is longer. In other words, it's a short-term loan or long-term debt that will become due in the next 12 months and require payment of current assets.