# Current liability

> Current liability — An obligation expected to be settled with current assets, or by creating another current liability, within twelve months or the operating cycle, if longer.

Source: https://lopifi.com/glossary/current-liability
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is current liability?** In accounting, current liability means an obligation expected to be settled with current assets, or by creating another current liability, within twelve months or the operating cycle, if longer.

## Words this system refuses for it

- short-term debt

- **Category:** Statements
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Related:** liability, settled