Accountancy, asked by anjali2104, 7 months ago

How liabilities are created ?

Answers

Answered by khaninayath302

2

Answer:

Liabilities are settled over time through the transfer of economic benefits including money, goods, or services. ... They can include a future service owed to others; short- or long-term borrowing from banks, individuals, or other entities; or a previous transaction that has created an unsettled obligation.

Answered by srijanmukhi

1

Answer:

Liabilities are settled over time through the transfer of economic benefits including money, goods, or services. ... They can include a future service owed to others; short- or long-term borrowing from banks, individuals, or other entities; or a previous transaction that has created an unsettled obligation.

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