OTHER CURRENT LIABILITIES Definition

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OTHER CURRENT LIABILITIES includes any other current liabilities, including bank overdrafts and accrued expenses.

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NONCURRENT LIABILITIES are liabilities that represent money the entity owes one year or more in the future. There are many line items in this category, the most important one being long-term debt.

TAX LOSS CARRY FORWARD/BACKWARD is a tax benefit that lets a company or individual to deduct losses in order to reduce a tax liability.

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