CURRENT LIABILITIES Definition

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CURRENT LIABILITIES are liabilities to be paid within one year of the balance sheet date.

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ECONOMIC ORDER QUANTITY is the order quantity that minimizes total inventory costs. A total inventory cost is the sum of ordering, carrying and stock-out costs.

BACKWARDATION is the commission paid by a seller for the postponement of a transaction on a stock exchange when prices for cash delivery are higher than for forward delivery.

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