Liabilities definition business dictionary
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A liability is a company's financial debt or obligations that arise during the course of its business operations.Liabilities are settled over time through the transfer of economic benefits including money, goods or services.
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A liability is something a person or company owes, usually a sum of money. ... Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.
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