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Current and Non-Current Assets and Liabilities also known as Short-term and Long-term Assets and Liabilities.
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Sometimes, these are referred
to as short term and
0:00
long term, instead of current and
non-current.
0:01
I actually regularly see current and
long term use together.
0:05
So, what does this mean?
0:09
When we see current assets and
long-term assets or
0:11
current liabilities and long-term
liabilities, what does that mean?
0:15
Well, current in accounting means
something happening within the next year,
0:18
so current assets are assets
that are expected to be
0:23
converted into cash within the next year.
0:26
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