what is liability
- 6 Answers
- 5735 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / elamparithy.a
liability refers to " something which we are liable to pay
in future".
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / poonam
A liability is an obligation expected to result in outflow
of economic benefits from the entity in near future
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / kiran negi
liability is accured and unexpected expense of an
organisation.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / md.shweatha
liablitiy refers to the financial obligations other than
owners investment .it may be current liablity and long term
liability
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / dipayan dey
In legal terms, the word liability refers to fault. The
person who is at fault is liable to another because of his
or her actions or failure to act. One example is in the
case of a crime. The liability of the offending party may
include providing restitution for damage to property or
paying medical bills in the case of physical injury.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / dipayan dey
In legal terms, the word liability refers to fault. The
person who is at fault is liable to another because of his
or her actions or failure to act. One example is in the
case of a crime. The liability of the offending party may
include providing restitution for damage to property or
paying medical bills in the case of physical injury.
| Is This Answer Correct ? | 0 Yes | 2 No |
How to treat company managers personal expenses met by company if he is not taking salary from company and in future salary will be payable after deducting all personal expenses (salary amt will be decided only at paying year). pass journal entries
Explain in simple terms what is the difference between asset, equity, and liabilities?
When tds is deducted from the payments to suppliers, how the Entry will appear in books of accounts in tally.
how to select afile in window vista
What is Balance sheet?
Honda car dr 11556 purchase 25/08/2010 to bank cr 4100 to loan cr 7456 Installment paid upto 31/7/2012 @ 207/-pm (total 4761/-) Loan Bal. 2695/- Car was cancelled due to accident in June-2012. Finance company refunded 6656/-(15/08/2012) Total accumulated depreciation was 5202.318. what will be the Car write-off entry..??
How to group the companies in tally?
journal entry for interest collected by account holder from the bank?
distribution of gift in diwali to employee & buyer!! what's suitable expences head.
as we are working in erp jd edwards in this the company gives advances to their employee for expenses n receives the amount either by cash or receives the same by deducting the salaries wt type of accounting entry will be passed
What is the basic entries of cash and bank with a trading company.
what is funds flow and what is cash flow?
Audit 
