Types of Liabilities in Accounting - Search
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  1. Investopedia
    https://www.investopedia.com › terms › liability.asp

    Liability: Definition, Types, Example, and Assets vs. Liabilities

    • A liability is something that a person or company owes, usually a sum of money. Liabilities are settled over time through the transfer of economic benefits including money, goods, or services. They're rec… See more

    How Liabilities Work

    A liability is generally an obligation between one party and another that's not yet completed or paid. A financial liability is also an obligation in the world of accounting but it's defi… See more

    Investopedia
    Other Definitions of Liability

    Liability generally refers to the state of being responsible for something. The term can refer to any money or service owed to another party. Tax liability can refer to the property ta… See more

    Investopedia
    Current vs. Non-Current Liabilities

    It's a long-term liability if a business takes out a mortgage that's payable over a 15-year period but the mortgage payments that are due during the current year are the current port… See more

    Investopedia
    What are the different types of liability accounts?
    There are many different kinds of liability accounts, although most accounting systems groups these accounts into two main categories: current and non-current. Current liabilities are debts that become due within the year, while non-current liabilities are debts that become due greater than one year in the future.
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