Question

What is liability explain it's important..?​

Answer 1

Answer:

the state of being responsible for something

किसी बात का उत्तरदायित्‍व

Explanation:

person or thing that can cause a lot of problems, cost a lot of money, etc.

Answer 2

Answer:

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.

Importance:-

Companies use liability accounts to maintain a record of unpaid balances to vendors, customers or employees. As part of the balance sheet, it gives shareholders an idea of the health of the company. Liabilities represent an important aspect of supply and demand in the economy

Explanation:

Hope this may help you...