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Daily Archives: December 12, 2022

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liabilities in accounting

What are Liabilities in accounting?

BookkeepingBy CA Mohnish KatreDecember 12, 2022Leave a comment

In their original meaning, Liabilities refer to several obligations, in terms of services or monetary compensation, that an entity owes to others. It refers to something that is to be lost by the possessor. In terms of accounting, it refers to a company’s financial obligations that it owes to its investors, business partners, suppliers, and…

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