Question

What is liabilities?

Answer 1

Liabilities:-Liabilities means those amounts which are to be paid by the business to other persons and or firms.

Answer 2

Answer:

✓Liabilities

Explanation:

Liabilities are defined as a company's legal financial debts or obligations that arise during the course of business operations. ... Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, earned premiums, unearned premiums, and accrued expenses