Question

what do you understand by liability and asset

Answer 1

liability and asset are the words of economy.

Liability means depend or responsible on someone.
when a person is unemploy means he dont want to do work or job.
He don't like to do work.
then he or she become liable on someone.
they depend on someone.
exp-accounts payable.
Assest means not depend on someone.
a person who is employ who want to do work and he/ she is not depend or resposible on someone.

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