Question

external liabilities are liabilities due to____​

Answer 1

Explanation:

Liabilities are obligations a business owes to external or internal parties. As per the accounting equation liabilities are equal to the difference between assets and capital. For example, Business A sells goods to Business B on credit, the amount owed by B to A is treated as a liability.

Internal Liability – All obligations which a business has to pay back to internal parties such as promoters (owners), employees etc. are termed as internal liabilities. Example – Capital, Salaries, Accumulated profits, etc

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Answer 2

Answer:

Liabilities are essentially liabilities that a company owes 0.33 to external and internal events. According to the balance sheet equation, liabilities are equivalent to the distinction between goods and capital.

Liabilities that have to be settled in the event of external events are generally referred to as external liabilities. For example, lenders, sellers, etc.Loans, accounts payable, taxes, overdrafts, etc. are some external liabilities. All debts that a company has to  external parties, that is lenders, sellers, etc.They are called external liabilities. Example - Loans, creditors, taxes, overdrafts, etc.

Examples of liabilities are -

• Bank debts.
• mortgage debt.
• Money owed to suppliers (supplier liabilities)
• Wages owed.
• taxes due.

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