Business, 26.02.2020 19:59 ayoismeisalex

What are liabilities? Describe two different types of liabilities.

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Answer from: amarionlucas06

1.)the state of being responsible for something, especially by law.

"the partners accept unlimited liability for any risks they undertake"

2.) thing for which someone is responsible, especially a debt or financial obligation.

plural noun: liabilities

"valuing the company's liabilities and assets"

Explanation:

Brainliest!

Answer from: yurlgurllmay

Indebtedness

Explanation:

Liabilities can be defined as the present obligation of a firm or individual resulting from past event from which future economic benefit is expected to flow out of the firm or individual.

Liability is basically is divided into Non current liabilities and current liabilities.

Non current liabilities are present obligation of a firm or individual resulting from past events from which future economic benefit is expected to flow out of the firm or individual which is of a duration of more than one year. Examples include Debentures, long term loans, deferred tax, etc.

Current liabilities can be defined as the present obligation of a firm or individual resulting from past event from which future economic benefit is expected to flow out of the firm or individual which repayment spans within an accounting year. Examples include trade payable, short term loans, accruals, etc

Answer from: Quest

It is answer choice (a.) true.

Answer from: Quest

Well, i would start out by advertising a lot. take money out of unused profit to have build boards put up and internet advertising. also, make sure your store signs are large and noticeable. make sure you have good deals and prices that the average consumer would be okay with. also, location is key. being in a high technology based city/location would be excellent for your business because it is based off of technology. hope this ! : )

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What are liabilities? Describe two different types of liabilities....

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