debt(s) of the business that must be repaid at a future date Short-term debts such as bank overdrafts, creditors etc which are expected to fall due during the accounting period, normally one year
The sum of debts or obligations of a business Normally, the liabilities appear on the credit side of a balance sheet This may be further broken down into current liabilities, long-term liabilities, etc
Debts owed by the business See "Current Liabilities" and "Long-Term Liabilities "
Those amounts which are owed by a borrower or company They will be classified as current liabilities, those coming due within a year, or long-term liabilities, those due after one year from the date of the statement
Financial obligations, debts, claims or potential losses For example, a company's debts to a lender, a supplier of goods and services, a tax authority and others Listed on the consolidated balance sheets See also assets, equity
A person's financial obligations Liabilities include long-term and short-term debt, as well as any other amounts that are owed to others
A person's financial obligations including both long-term and short-term debt, as well as any other amounts that are owed to others
Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events
The claims against a corporation or other entity They include accounts payable, wages and salaries, dividends, taxes and obligations such as bonds, debentures and bank loans See current liabilities and total liabilities BACK TO TOP
{i} financial obligations recorded in the balance sheet of a business; debts of a company or of a person; damages that can be caused by an unanticipated release of contaminating substances into the environment (Envirionmental Protection)
The financial obligations of the business Amounts owing to suppliers, or lines of credit are examples
Amounts owed for items received, services rendered, expenses incurred, assets acquired, construction performed (regardless of whether invoices have been received), and amounts received but as yet unearned Included are amounts owed for goods in the hands of contractors under the constructive delivery concept (when the records of the agency provide such information), and amounts owed under grants, pensions, awards, and other indebtedness not involving the furnishing of goods and services The two classifications occurring most frequently are the following
A person's financial obligations Liabilities include long-term and short-term debt
the financial responsibilities and obligations of an individual or firm such as debt, accounts payable, etc
These are the debts and obligations of a company Current liabilities are debts due and payable within one year Long-term liabilities are those payable after one year Liabilities are found on a company's balance sheet
Obligations measurable in monetary terms that represent amounts owed to creditors, governments, employees, and other parties
All the claims against a corporation Liabilities include accounts, wages and salaries payable; dividends declared payable; accrued taxes payable; and fixed or long-term liabilities, such as mortgage bonds, debentures and bank loans
Any sort of legal obligation, including, for example, the obligation of a corporation to pay wages or taxes The liabilities most often discussed in this Ethics Center are those to compensate for injury or to clean up toxic contamination Legal liability to compensate for an injury or to clean up contamination does not necessarily require that one have caused the injury or contamination, or that one is guilty in a moral sense Under the doctrine of strict liability a party may be liable without having been guilty of negligence, for example
In terms of foreign exchange , the obligation to deliver to a counterparty an amount of currency either in respect of a balance sheet holding at a specified future date or in respect of an un-matured forward or spot transaction
* Any sort of legal obligation, including, for example, the obligation of a corporation to pay wages or taxes The liabilities most often discussed in this Ethics Center are those to compensate for injury or to clean up toxic contamination Legal liability to compensate for an injury or to clean up contamination does not necessarily require that one have caused the injury or contamination, or that one is guilty in a moral sense Under the doctrine of strict liability a party may be liable without having been guilty of negligence, for example
A legal obligation to pay a debt owed Current liabilities are debts payable within twelve months Long-term liabilities are debts payable over a period of more than twelve months
A company's or organization's liabilities are the sums of money which it owes. The company had assets of $138 million and liabilities of $120.5 million. asset see also liable
Liability is the amount of money that a portfolio account owes For example, if one buys stocks on margin, the margin loan amount would represent the account's liability Similarly, if one goes short, the securities loaned would be the liability
If you say that someone or something is a liability, you mean that they cause a lot of problems or embarrassment. As the president's prestige continues to fall, they're clearly beginning to consider him a liability. what was once a vote catching policy, is now a political liability
Liability is a term that broadly means legal responsibility If you run a stop sign and hit another car, you may be found liable for the damages to the other driver's auto Back to Top
Liability is any legally enforceable obligation Liability insurance covers you for money you are legally obliged to pay because a court has found that you were responsible for damage to another person's property
a broad legal term In general, a debt owed The condition of being actually or potentially subject to an obligation; a condition of being responsible for a possible or actual loss, penalty, evil, expense or burden; a condition which creates a duty to perform an act immediately or in the future
Liability refers to the responsibility for charges to an account Generally, a cardholder agrees to be liable for any charges to his or her account, including purchases, fees and finance charges If the cardholder allows someone else to make charges to his or her account (through, for example, an additional card), the cardholder is still responsible for paying the bill Two people who apply for a card together may both be responsible for the entire balance Your liability is described in the cardholder agreement you receive from the issuer Be sure to read it carefully
Any legal obligation, either due now or at some time in the future It could be a debt or a promise to do something To say a person is "liable" for a debt or wrongful act is to indicate that they are the person responsible for paying the debt or compensating the wrongful act
Liability with regard to your student loan essentially means that you have a legal responsibility to pay back the money you borrowed plus interest So, when you take out a student loan, you are legally responsible (liable) to pay the loan back