Question

What is liabalities in commerce
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Answer 1

Answer:

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. ... Most companies will have these two line items on their balance sheet, as they are part of ongoing current and long-term operations.

Explanation:

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Answer 2

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. ... Most companies will have these two line items on their balance sheet, as they are part of ongoing current and long-term operations.

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