### Question
Can you define what current liability means?


### Answer
**Current liability** is defined as the following in *29 U.S.C. § 1082*:

> given such term by subsection (d)(7) of this section (without regard to subparagraph (D) thereof), and


(II) assets shall not be reduced by any credit balance in the funding standard account.

#### Citation:
  - *29 U.S.C. § 1082*
  - Heading: **CHAPTER 17-COMPREHENSIVE EMPLOYMENT AND TRAINING PROGRAMS > SUBCHAPTER I-PROTECTION OF EMPLOYEE BENEFIT RIGHTS > Subtitle B-Regulatory Provisions > part 3-funding**

