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liability |
Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Acronyms, Encyclopedia, Wikipedia | 0.04 sec. |
liabilityIn accounting, a financial obligation. Liabilities are placed alongside assets on a balance sheet to show the wealth of the individual or company concerned at a given date. Business organizations often distinguish between current liabilities such as overdrafts, trade credit, and provisions, and long-term liabilities such as debentures, mortgages, and unsecured loans. |
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? Mentioned in | ? References in classic literature | ||
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| "Ah, I see," the Noser said, thoughtfully; "it is a liability. It took of course more than that particular passage to place us together in presence of what we had now to live with as we could-- my dreadful liability to impressions of the order so vividly exemplified, and my companion's knowledge, henceforth--a knowledge half consternation and half compassion--of that liability. There were accidents to machinery, the liability of trains to run off the line, collisions, bad weather, the blocking up by snow--were not all these against Phileas Fogg? |
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liability
