Question

Expences payable are fixed liability of business.

Answer 1

expenses payable are the current liabilities of the business. fixed liabilities include credit of debentures extra .

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Answer 2

Liabilities are defined as a company legal Financial debts or obligations that arise during the course of business operation.
Recorded on the right side of the balance sheet, liabilities include loan, account, payable, motgages, deffered revenues, and accrued expenses.