NONCURRENT Meaning and
Definition
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Noncurrent is an adjective used to describe something that is not currently being used, is outdated, or has been set aside for future use. In finance and accounting, noncurrent refers to assets and liabilities that are expected to be held or settled for a period longer than one year from the current date.
In the context of finance, noncurrent assets include long-term investments, long-term notes receivable, fixed assets (such as land, buildings, and equipment), and intangible assets (such as patents and copyrights). These assets are not expected to be converted into cash or used up within the normal operating cycle of a business. On the other hand, noncurrent liabilities encompass long-term loans, bonds payable, and other long-term debts that are not due for payment within the current year.
In a broader sense, noncurrent can also refer to objects, technologies, or ideas that have become outdated or have been replaced by more modern alternatives. For example, a noncurrent computer model would be one that is no longer being manufactured or sold. Similarly, noncurrent knowledge refers to information or theories that are no longer accepted or relevant in a particular field.
Overall, the term noncurrent indicates a state of being unused, outdated, or set aside for future use, whether in the realm of finance, technology, or other domains.
Common Misspellings for NONCURRENT
- moncurrent
- joncurrent
- honcurrent
- nincurrent
- nkncurrent
- nlncurrent
- npncurrent
- n0ncurrent
- n9ncurrent
- nobcurrent
- nomcurrent
- nojcurrent
- nohcurrent
- nonxurrent
- nonvurrent
- nonfurrent
- nondurrent
- noncyrrent
- nonchrrent
Etymology of NONCURRENT
The word "noncurrent" can be broken down into two parts: "non-" and "current".
The prefix "non-" is derived from the Latin word "non", which means "not". It is commonly used in English to indicate negation or absence.
The word "current" comes from the Latin word "currens", which is the present participle of "currere", meaning "to run". Over time, "current" evolved to describe something that is presently flowing or moving in a particular direction.
Therefore, the etymology of "noncurrent" suggests that it refers to something that is not currently flowing or moving. In various contexts, "noncurrent" is used to describe items or accounts that are not in active use or are no longer in circulation.
Similar spelling words for NONCURRENT
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