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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BOND ANTICIPATION NOTE (BAN) is a tax-exempt note that is issued as temporary or bridge financing until a bond issue is floated. The proceeds from the bond issue are then used to payoff the bond anticipation note.

UNIT-OF-DELIVERY METHOD see UNIT-OF-WORK-PERFORMED METHOD.

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