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DO you know what is liabilities in accounting?
I don't know what are liabilities.
lets ask sir.he will be knowing what Is liabilities in accounting terminologies
A current liability is a potential loss that may occur in the future depending on the outcome of a specific event. liability is a contingent liability A s
ok we will
sir do you know what are liabilities ?
Liabilities are something a person or company owes, usually a sum of money.
There are two types of Liabilities-i)Current Liabilities ii)Contingent Liabilities
Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle
Sir can you give an example.
An example of a current liability is money owed to suppliers in the form of accounts payabl
Potential lawsuits, product warranties, and pending investigation are some examples of contingent liability.
OH! Now I understood what are liabilities. Thank you so much sir
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