what exactly liabilities mean?

meaning of liabilities

  • Deshna
  • 23 Jun 2023
  • 637 Views
  • 20 Answers
Your Answer

A person who liable to pay something, it may be cash, goods or other to someone is callerd as Liabilirty. In Financial session creditors, loans overdraft etc. are the exampiles for liability. On the basis  period of time liability is classified into short-term and long-term liability.

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