Question

difference between internal and external liabilities​

Answer 1

Answer:

Internal Liability – All obligations which a business has to pay back to internal parties such as promoters (owners), employees etc. ... External Liability – All obligations which a business has to pay back to external parties i.e. lenders, vendors, etc. are termed as external liabilities.

Explanation:

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Answer 2

Answer:

Internal Liability – All obligations which a business has to pay back to internal parties such as promoters (owners), employees etc. ... External Liability – All obligations which a business has to pay back to external parties i.e. lenders, vendors, etc.