Business, Legal & Accounting Glossary
Obligations of an entity to transfer economic benefits as a result of past transactions or events.
Banks won’t lend money to clients whose liabilities outweigh their assets by a large margin.
That company’s budget showed large liabilities during the fiscal year in which they upgraded all of their systems, but the savings they have experienced since then has more than compensated.
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This glossary post was last updated: 14th February, 2020 | 41 Views.