short term liability

Definition

A debt or current liability arising from normal business operations and recurring expenses that is expected to be satisfied within one year. Examples of short term liabilities are accounts payable, taxes payable, unearned revenues, current purchases, vendor invoices, accrued expenses payable and current portions of long-term debt.

Use this term in a sentence

You should try and find a way to limit your short term liability so that you are not taking on to much risk.

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All in all it was merely a short term liability and we fully expected within two years that the situation would not be a problem any longer.

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SHORT TERM LIABILITY Business owner's insurance is a type of insurance package, which is a combination of both property insurance and liability insurance. The reasonable price tag makes this option more attractive for the small businesses instead of buying separate policies for property insurance and liability insurance.

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short tender short-term objectives