WHAT IS LIABILITY?
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Answer / deepak kumar sharma
Liability means- : company's legal debts or obligations
that arise during the course of business operations.
It include loans, accounts payable, mortgages, deferred
revenues and accrued expenses and always show in balance
sheet (right side)
liabilites are diviede into two parts,
1 Current liabilty
2 Long Liabilty
Current liabilities means those debts payable within one
year while long-term liabilities are debts payable over a
longer period.
A balance sheet item which equals the sum of all money owed
by a company and due within one year. also called payables
or current debt.
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / vinay kumar . pagidikondala
The term liability refer to amounts due from a business to
others either for money borrowed or for goods or assets
purchased on credit or services received without making
immediate payments.
Ex:- Bank loan overdrafts, trade creditors
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / nivedhitha
liability is a financial obligation of the bussiness or firm
| Is This Answer Correct ? | 3 Yes | 0 No |
liabilities are two types
current liabilities and liabilities current liabilities
means it should be paid with in one year means during the
financial year ex:short term loans and insurance and
salary's
current liabilities =current assets - working capital
liabilities = current assets - owners equity
liabilities means company is liable to others or debenture
holders or O.D and creditors
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / mithun .d. shigwan
The liabilities is curent liabilities means should be paid whit in one years means durinn the fincial year
LIABILITIES=CURENT LIABI+ASSEAT
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / raja
Liabilities is payable of particulars its show on balance
sheet left site
| Is This Answer Correct ? | 6 Yes | 6 No |
asset = liab + equity , Asset = 120000 + 1 third of asset. what is asset value.
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