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External liabities.
lidbities such as
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AccountingCapital External Liability – All obligations which a business has to pay back to external parties i.e. lenders, vendors, etc. are termed as external liabilities. Example – Borrowings, Creditors, Taxes, Overdraft, etc.
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The total amount of deb ts payable by a business to the outsiders (other than the owners) are called external liabilities e.g., creditors, bills payable etc.
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