LIABILITIES

liabilities

(noun) anything that is owed to someone else

Source: WordNet® 3.1


Noun

liabilities

plural of liability

(finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.

(accounting) The right side of a balance sheet.

Source: Wiktionary


LIABILITY

Li`a*bil"i*ty, n.; pl. Liabilities (.

1. The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.

2. That which one is under obligation to pay, or for which one is liable. Specifically, in the pl.,

Definition: the sum of one's pecuniary obligations; -- opposed to assets. Limited liability. See Limited company, under Limited.

Source: Webster’s Unabridged Dictionary 1913 Edition



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Word of the Day

13 March 2025

ACCURATE

(adjective) conforming exactly or almost exactly to fact or to a standard or performing with total accuracy; “an accurate reproduction”; “the accounting was accurate”; “accurate measurements”; “an accurate scale”


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Coffee Trivia

According to Guinness World Records, the largest coffee shop is the Al Masaa Café, which has 1,050 seats. The coffee shop was inaugurated in Riyadh, Saudi Arabia, on 13 August 2014.

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