Accountancy, asked by Anonymous, 6 months ago

what is external liability and intenal liability??????​

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Answered by Anonymous
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ɪɴᴛᴇʀɴᴀʟ ʟɪᴀʙɪʟɪᴛʏ – ᴀʟʟ ᴏʙʟɪɢᴀᴛɪᴏɴs ᴡʜɪᴄʜ ᴀ ʙᴜsɪɴᴇss ʜᴀs ᴛᴏ ᴘᴀʏ ʙᴀᴄᴋ ᴛᴏ ɪɴᴛᴇʀɴᴀʟ ᴘᴀʀᴛɪᴇs sᴜᴄʜ ᴀs ᴘʀᴏᴍᴏᴛᴇʀs (ᴏᴡɴᴇʀs), ᴇᴍᴘʟᴏʏᴇᴇs ᴇᴛᴄ. ᴀʀᴇ ᴛᴇʀᴍᴇᴅ ᴀs ɪɴᴛᴇʀɴᴀʟ ʟɪᴀʙɪʟɪᴛɪᴇs. ... ᴇxᴛᴇʀɴᴀʟ ʟɪᴀʙɪʟɪᴛʏ – ᴀʟʟ ᴏʙʟɪɢᴀᴛɪᴏɴs ᴡʜɪᴄʜ ᴀ ʙᴜsɪɴᴇss ʜᴀs ᴛᴏ ᴘᴀʏ ʙᴀᴄᴋ ᴛᴏ ᴇxᴛᴇʀɴᴀʟ ᴘᴀʀᴛɪᴇs ɪ.ᴇ. ʟᴇɴᴅᴇʀs, ᴠᴇɴᴅᴏʀs, ᴇᴛᴄ.

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