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1. • International Accounting Standards Board’s (IASB’s)

     • The International Accounting Standards Board’s (IASB’s) definition of a liability is currently the most widely accepted.
     marketbusinessnews.com › financial-glossary › liability

     What is a liability? Definition and examples - Market ...

2. www.investopedia.com › terms › lLiability: Definition, Types, Example, and Assets vs. Liabilities

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   Jun 28, 2024 · A liability is something that a person or company owes, usually a sum of money. Liabilities are settled over time through the transfer of economic benefits including money,...

3. People also ask

   What is a liability in accounting?

   • Definition: A liability is a debt owed from one company to a person or company that is not an owner of business. In other words, liabilities are debts owed to non-owners or creditors. What Does Liability Mean? There are many different types of liabilities including accounts payable, payroll taxes payable, and bank notes.

   What are Liabilities? - Definition | Meaning | Example

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   What is the plural of liability?

   • , plural li·a·bil·i·ties. Finance. moneys owed; debts or pecuniary obligations ( assets ). Accounting. liabilities as detailed on a balance sheet, especially in relation to assets and capital. His lack of education is his biggest liability. liability to disease. An obligation or debt.

   LIABILITY Definition & Meaning | Dictionary.com

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   What does liability mean?

   • : liability imposed against an individual especially for injuries that occur on the individual's property or as a result of the individual's activities : liability arising from injuries or losses occurring on one's premises : liability imposed directly on a person because of his or her own negligence, default, or legal undertaking

   Liability Definition & Meaning - Merriam-Webster

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   What is a business liability?

   • Liability can also refer to one's potential damages in a civil lawsuit. Businesses sort their liabilities into two categories: current and long-term. Current liabilities are debts payable within one year, while long-term liabilities are debts payable over a longer period.

   Liability: Definition, Types, Example, and Assets vs. Liabilities

   www.investopedia.com/terms/l/liability.asp

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4. www.merriam-webster.com › dictionary › liabilityLiability Definition & Meaning - Merriam-Webster

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   The meaning of LIABILITY is the quality or state of being liable. How to use liability in a sentence.

5. Videos

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     investopedia.com

     Liability: Definition, Types, Example, and Assets vs. Liabilities

     Dec 31, 2008

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     10:55

     youtube.com

     What Are Liabilities? (SIMPLE Explanation)

     Mar 3, 2019

     256.5K Views

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     4:51

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     What are Liabilities? Explained with Examples

     Jul 4, 2023

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6. legaldictionary.net › liabilityLiability - Definition, Examples, Cases - Legal Dictionary

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   Sep 5, 2016 · Liability defined and explained with examples. Liability is the state of being liable or responsible for something; an obligation or debt.

7. dictionary.cambridge.org › english › liabilityLIABILITY | English meaning - Cambridge Dictionary

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   the responsibility of a person, business, or organization to pay or give up something of value: [ U ] He denies any liability in the accident. [ C usually pl ] The business has liabilities of $5 million. A liability is also anything that hurts your chances of success or that causes difficulties:

8. www.myaccountingcourse.com › accounting-dictionaryWhat are Liabilities? - Definition | Meaning | Example

   www.myaccountingcourse.com › accounting-dictionary

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   Definition: A liability is a debt owed from one company to a person or company that is not an owner of business. In other words, liabilities are debts owed to non-owners or creditors.

9. dictionary.cambridge.org › english › liabilityLIABILITY | definition in the Cambridge English Dictionary

   dictionary.cambridge.org › english › liability

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   the responsibility of a person, business, or organization to pay or give up something of value: [ U ] He denies any liability in the accident. [ C usually pl ] The business has liabilities of $5 million. A liability is also anything that hurts your chances of success or that causes difficulties:

10. www.dictionary.com › browse › liabilityLIABILITY Definition & Meaning | Dictionary.com

    www.dictionary.com › browse › liability

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    Liability definition: moneys owed; debts or pecuniary obligations (opposed to assets).. See examples of LIABILITY used in a sentence.