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



RESET




Word of the Day

8 November 2024

REPLACEMENT

(noun) the act of furnishing an equivalent person or thing in the place of another; “replacing the star will not be easy”


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Coffee Trivia

The earliest credible evidence of coffee-drinking as the modern beverage appeared in modern-day Yemen. In the middle of the 15th century in Sufi shrines where coffee seeds were first roasted and brewed for drinking. The Yemenis procured the coffee beans from the Ethiopian Highlands.

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