Liability - A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation.
A legal debt or obligation estimated via accrual accounting. Recorded on the balance sheet, current liabilities are debts payable within one year, while long-term liabilities are debts payable over a longer period.
Liability : a financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation.
a legal debt or obligation estimated via accrual accounting. recorded on the balance sheet, current liabilities are debts payable within one year, while long-term liabilities are debts payable over a longer period.
Liability