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A liability is a debt or legal obligation of the business to another individual, bank or entity. There could be both short-term liabilities as well as long-term liabilities.Liability is a type of borrowing that creates an obligation of repayment to the other party involved. It is an outcome of past events or transactions and results in the outflow of resources.
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Limited Liability Company is a U.S. term wherein the members of the corporate structure are not personally liable for the debts and obligations.
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You’re a little much for me. You’re a liability.
Long Term Liabilities: MeaningLong-term liabilities are the financial obligation of a company that does not become due in the current financial year. Moreover, these… Read Article The post Long Term Liabilities – Meaning, List, Calculation, and Use appeared first on eFinanceManagement.
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Maybe you can split your company in half to eliminate liabilities you don't want.
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