Working Capital (net current assets, current capital): current assets minus current liabilities.
Related terms:
current ratio (current asset ratio): current assets divided by current liabilities. A measure of liquidity for the company. Often a ratio of 1.5 to 2.0 is considered best but it really depends on the type of business and other factors. A ratio below 1 means the company owes more in the next year than it has in current assets (which normally is a bad situation ,but, as usual, exceptions exist to such a statement).
quick ratio: (current assets - inventory)/current liabilities. A more conservative measure used because inventory may not necessarily be liquid for the price listed on the balance sheet (depending on market conditions)