What are Liabilities? Know about it
Meaning, Liabilities Definition
About Liabilities, We all know that there is a very common word used in accounting.
Liabilities play an important role in any business as well
as in our daily life.
In this, you will know what are Liabilities? Types of
Liabilities What is Current Liabilities? What are Non-Current Liabilities?
Non-Current Liabilities Example.
What are Liabilities?
What Is Liabilities Meaning?
Liabilities also mean debt.
This word itself suggests that you have an obligation or
liability for anything.
The money that is to be given to someone else is called
Liabilities.
Taking a loan from anyone, borrowing any item and giving
money later, taking a loan from a bank, etc. It comes under all liabilities.
That is, the process of paying money is an obligation.
Types of Liabilities
There are two types of Liabilities
Current Liabilities
Non-Current Liabilities
What are Current Liabilities?
Current Liabilities Meaning
We also call Current Liabilities as Short Term Liabilities.
Repayment of money in some limited time comes under Current
Liabilities.
We have to repay such loans in one financial year or less.
Current Liabilities Example
Or, Short Term Liabilities Example
Example of Current Liabilities
- Light or Electricity Bill
- Payments to Employees
- Tax Paying
- Bank Overdraft
- Outstanding Expenses
- Short Term Loan
- Other Current Liabilities
What are Non-Current Liabilities?
Non-Current Liabilities Meaning
Non-Current Liabilities are also called Long Term
Liabilities.
Such liability which has to be paid in one financial year or
after that is called Non-Current Liabilities.
This loan is taken for a long time.
Non-Current Liabilities Example
Or, Long Term Liabilities Example
Example of Non-Current Liabilities
- Long Term Borrowings
- Derivative Liabilities
- Long Term Provisions
- Deferred Tax Liabilities
- Other Long Term Liabilities
In this, you know what are Liabilities? Types of Liabilities
What is Current Liabilities? What are Non-Current Liabilities? Non-Current
Liabilities Example.
We hope that you have liked the information given about
Liabilities. If this has helped, please do share.
Liabilities Meaning, Current Liabilities Meaning,
Liabilities Meaning In Accounting, What Is Liability, What Is Liabilities In
Accounting, Long-Term Liabilities, Types Of Liabilities, Liabilities Examples,
Liabilities Definition.
