Short-Term Debt Definition: Short-term debt is a liability paid in full within a short period, usually under one year. This type of liability is considered a current liability on a balance sheet and financial reports.
Examples of a current liability may include a small purchase of office equipment. If a debt is paid off over a more extended period or a year, it is classified as long-term debt.
comparewise
Send us your questions and we will get back to you.
Top deals await you just a short
application away!
