Usually, the debts are divided into liquid liability and long-term debt according to the length of the payback period.

负债一般按偿还期长短分为流动负债和长期负债。

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The liquid liability is the debt that an enterprise will pay back during an operation cycle which is either shorter or longer than a year.

流动负债合计是指企业在一年内或超过一年的一个营业周期内偿还的债务；

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Raymond Greaves, an analyst with Merrill Lynch, has calculated that, in March, there were around euro4 billion of net prepayments on the liability side of Alstom's balance sheet for which he cannot clearly identify liquid assets.

ECONOMIST: Alstom