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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CAPITALIZED COSTS are business expenses that are written off or deducted over a period of time through depreciation or amortization schedules.

CANCEL SUPPORTING DOCUMENTS is to mark supporting documents as having been used to support a transaction so the same documents can't be used to support another transaction. An example is stamping vouchers "paid.”

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