Liability
From Wikipedia, the free encyclopedia
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Look up liability in Wiktionary, the free dictionary. |
A liability can mean something that is a hindrance or puts an individual or group at a disadvantage, or something that someone is responsible for, or something that increases the chance of something occurring (i.e. it is a cause).
Liability may also refer in specific fields to:
[edit] Finance
- liability (financial accounting), a current obligation of an entity arising from past transactions or events
- Accrued liabilities and contingent liability
- Current liability
- Long-term liabilities
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