TOTAL CURRENT LIABILITIES Definition

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TOTAL CURRENT LIABILITIES is the total of notes payable-short term, current maturities-LTD, trade payables, income taxes payable, and all other current liabilities.

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COMMITMENT is the act of standing behind a policy whose value ends when the policy is concluded. For example: " We made a commitment to do this".

RETROSPECTIVE REIMBURSEMENT, in healthcare, is where reimbursement came after medical care was delivered.

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