Liabilities Resources


Liabilities Liabilities are essentially debts. They can be: current (short term): due & payable within 1 year long-term: due & payable in over 1 year The most common liabilities are: Accounts Payable: for routine expenses and inventory purchased on credit Notes Payable: short- or long-term loans from banks or other lenders Accrued Expenses: various current... read more