Glossary
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Click one of the letters above to advance the page to terms beginning with that letter.
- Liability
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DEBTS or OBLIGATIONS owed by one entity (DEBTOR) to another entity (CREDITOR) payable in money, goods, or services.
See also: Contra-Liability Account, Debt, Dividends Payable, Expenditure, Limited Company, Limited Liability, Limited Liability Company (LLC), Limited Liability Partnership (LLP), Limited Partnership, LLC, Obligations, Owner’s Equity
