What is meant by liabilities ?

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Name

  • Mar 21st, 2006
 

Liabilities is nothing but the oraganisation's liayable part

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Navneet Buttar

  • Mar 22nd, 2006
 

Liabilities are what all u owe from the bank on notes payable or in other words it is:

Liability=Asset-Owners equity

rahul

  • Mar 26th, 2006
 

The amount which is due for a company.

bev

  • Apr 3rd, 2006
 

Liability is a present obligation with a future payment from a past event (transaction).

sudalai rajan

  • Apr 7th, 2006
 

It the debt of the company to repay the amount to its creditors.

Kishore Gali

  • Apr 8th, 2006
 

Capitlal - Assets = Liabilities

Gopal

  • Apr 11th, 2006
 

liablities is what a organisation owes rather than what its owns (assets) or what is worth (capital or equity)

Anand Inamdar

  • Apr 23rd, 2006
 

It is ok : capital-assets=liabilities, (Basic accounting equation is : Capita + Liabilities=Assets.But explain what do u understand by Liabilities?

BhageswariShanmugam

  • Apr 28th, 2006
 

All that the company owes to others is known as liability.

for eg: Payables to cr's , Loan from banks , Loan from persons and also the Capital from the business.

Pradnya

  • May 24th, 2006
 

Liabilities are future ecomic obligations . They are increase in the expenses and decrease in the assets of the company

ravi

  • Sep 30th, 2006
 

liablities are the obligation to pay a certion sum

Modit Rastogi

  • Oct 5th, 2006
 

Liabilities in relation to business are the borrowing of the concern. These may be short and long term depending upon the time frame within which these are to be paid back.

Ramesh

  • Nov 29th, 2006
 

Liablities is nothing but the organisation liyable to pay for some one else.. for receving some on the way of Cash, Palnt and Machinery..if its current liablities u have to pay with in one year.weather it is Liablities there is no specified period...to repay

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Nancy

  • Feb 20th, 2007
 

This includes all debts and obligations owed by the business to outside creditors, vendors, or banks that are payable within one year, plus the owners’ equity. Often, this side of the balance sheet is simply referred to as “Liabilities.”

subbop

  • Aug 7th, 2009
 

It is an obligation to pay an amount in money, goods, responsibility or services to another party. The balance sheet lists liabilities.

The Account equation



Assets = Liabilities + Owner's Equity



is the Mathematical structure of Balance sheet from that



Liabilities = Assets - Owner's Equity



Liabilities are generally divided into two categories. They are Current liabilities and Long term liabilities.


Current Liabilities are generally expected to be paid within a year. For example wages, taxes, Account payables and short term obligations etc.


Long term Liabilities are generally not paid within a year.  For example Bank loans, long term Bonds, Promissory Notes, guarantee given on goods etc.

S.M.Vishwanath

  • Aug 10th, 2011
 

Liability is part of amount which is liable to pay to its creditors by the company/business.

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shilpa

  • Aug 16th, 2011
 

Liabilities are the obligation or debt payable by the enterprise in future in the form of money or goods.

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