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