BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Liabilities are the legal debts a company owes to third-party creditors. They can include accounts payable, notes payable and bank debt. All businesses must take on liabilities in order to operate and grow.

Detailed explanation-2: -Liabilities are debts or other obligations in which your business owes money, now or in the future. Assets are items of value that your business owns, such as real estate and equipment. Assets and liabilities are part of a business’s balance sheet and are used to judge the business’s financial health.

Detailed explanation-3: -Liabilities are any debts your company has, whether it’s bank loans, mortgages, unpaid bills, IOUs, or any other sum of money that you owe someone else. If you’ve promised to pay someone a sum of money in the future and haven’t paid them yet, that’s a liability.

Detailed explanation-4: -Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.