what exactly liabilities mean?

meaning of liabilities

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Liability refers to something which a comany is in due i.e; to pay back to its suppliers, debenture holders, and many more expenses. liabilities will decrease the value of the company. company should see to it that the liabilities of the comany should not cross the assets of the comany else company will be into losses and its repution will be spoiled in the socity.

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