Liability
A debt or obligation a business owes to another party.
Examples include unpaid vendor bills, loans, taxes payable, and credit-card balances. Liabilities appear on the Balance Sheet.
Related: Accounts Payable, Asset, Equity
A debt or obligation a business owes to another party.
Examples include unpaid vendor bills, loans, taxes payable, and credit-card balances. Liabilities appear on the Balance Sheet.
Related: Accounts Payable, Asset, Equity