Liability: Definition, Types, Example, And Assets Vs. Liabilities
https://livewell.com/finance/liability-definition-types-example-and-assets-vs-liabilities/
WEBDec 17, 2023 · Liability, in financial terms, refers to the obligations or debts that an individual, business, or entity owes to someone else. It represents the amount of money that must be repaid or fulfilled. Understanding liabilities is crucial in evaluating an individual’s or company’s financial health, as it directly affects their ability to fulfill ...
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