noun
liabilities
noun
1
Debts or financial obligations that a person or company must eventually pay.
"The company's liabilities include loans, unpaid invoices, and taxes owed."
"Before buying the business, she reviewed its assets and liabilities carefully."
How to Use Liabilities
Learner’s notesIn plain EnglishThe money a person or business owes to others.
Common mistake
Liabilities are the opposite of assets on a balance sheet — assets are what you own, liabilities are what you owe.
Easily confused with
Common pairings
assets and liabilities
current liabilities
long-term liabilities
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Can you complete this real example?
The company's _____ include loans, unpaid invoices, and taxes owed.