Accountancy, asked by yali37, 9 months ago

explain the meaning of laibility

Answers

Answered by anshika2008

1

the state of being responsible for something

Answered by Ranaankit2322

1

Explanation:

Definition of liability

1a : the quality or state of being liable

was cleared of liability for the accident

b : PROBABILITY

2 : something for which one is liable

especially : pecuniary obligation : DEBT —usually used in plural

business assets and liabilities

3 : one that acts as a disadvantage : DRAWBACK

This scandal makes the candidate a liability for the party.

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