Business Studies, asked by smskhaksar66, 29 days ago

What do you understand by libilities?

Answers

Answered by tejindersinghdeol41

Answer:

the state of being legally responsible for somethin

Answered by asahani30582

Explanation:

A liability is something a person or company owes, usually a sum of money. Liabilities are settled over time through the transfer of economic benefits including money, goods, or services. ... In general, a liability is an obligation between one party and another not yet completed or paid for.

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