Question

what is liabilities​

Answer 1

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Liability

• Liabilities are defined as a company's legal financial debts or obligations that arise during the course of business operations. They can be limited, or unlimited liability. Liabilities are settled over time through the transfer of economic benefits including money, goods, or services.

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Answer 2

Answer:

A liability, in general, is an obligation to or something that you owe somebody else. ... Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, and accrued expenses.

Explanation:

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